Business Bankruptcy Lawyers in Collin County, TexasWhen a business files for bankruptcy, it may, under most circumstances, either file for Chapter 7 or Chapter 11 bankruptcy in Collin County, Texas.
For most publicly-held companies, filing for Chapter 11 bankruptcy is better because it is a way to rehabilitate the business.
Under a Chapter 7 bankruptcy, all of the assets are liquidated and the business is generally dissolved at the end. Most businesses, therefore, prefer to file for Chapter 11 bankruptcy, in which a trustee is appointed to reorganize the company's finances.
The business may then "emerge" from bankruptcy. Contact a business bankruptcy attorney in Collin County, Texas for legal advice.
Board Certification in Business Bankruptcy Law - The American Board of Certification (ABC) is accredited by the ABA to certify attorneys as specialists in business bankruptcy law.
NACBA serves the needs of consumer bankruptcy attorneys and works to protect the rights of consumer debtors.
Plano Bar Lawyer Referral Service - The Plano Bar Association, founded in 1973, sponsors a Lawyer Referral Service ("LRS"). The non-profit community based service helps individuals and businesses find a qualified attorney in Plano, TX, and the surrounding areas in Collins County. The website for the Plano Bar Association also provides a list of the participating lawyers and law firms.
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