When a business files for bankruptcy, it may, under most circumstances, either file for Chapter 7 or Chapter 11 bankruptcy in Fairfax County, Virginia.
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 Fairfax County, Virginia 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.
Lawyer Referral Service (LRS) of the Fairfax Bar Association - For more than 20 years, the Fairfax Bar Association has sponsored a non-profit Lawyer Referral Service that helps individuals and businesses find a qualified attorney in Fairfax County, Northern Virginia County, Prince William (Manassas) County, Loudoun County, and Stafford County, VA. Each year, the staff takes more than 10,000 calls and makes more than 3,000 referrals to individuals and businesses searching for a local attorney.