Tuesday, July 5, 2011

business bankruptcy

An attorney representing individuals, partnerships, limited liability companies (LLCs), or corporations facing financial difficulty must decide which chapter of the Bankruptcy Code best suits the needs of the client or whether the attorney should attempt to help solve the client’s financial problems outside bankruptcy. There are four primary chapters under the Bankruptcy Code, 11 U.S.C. §101, et seq., that a practitioner has available to assist the client. These are Chapters 7, 11, 12, and 13.


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