What Is Chapter 11 Bankruptcy For Usually?

Bankruptcy lawyer indiana

Chapter 11 bankruptcy attorney’s cases usually make it to the news when their large, corporate clients fall into financial turmoil, and wind up needing bankruptcy help. Such companies that have had to employee a Chapter 11 bankruptcy attorney include K-Mart, Lehman Brothers, General Motors and United Airlines. However, not all Chapter 11 cases wind up on the news. In fact, in 2010 there were close to 14,000 cases that were filed in the United States!

Similar to a Chapter 7 or Chapter 13 bankruptcy, Chapter 11 is filed voluntarily. Although, it is possible for creditors to band together and file an involuntary Chapter 11 petition against a debtor. Most businesses, though, generally hire a Chapter 11 bankruptcy attorney to being the petitioning process in the city where there business is located, or “

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