Luxury Developer Files for Bankruptcy

A Colleyville, Texas luxury developer has filed for Chapter 7 bankruptcy for partnerships that controlled various areas and projects that are unfinished. In filing Chapter 7 bankruptcy, it will put liquidation of the partnerships' assets in the hands of a federal judge. The properties were posted for a foreclosure sale, but the bankruptcy filing will cancel the sales for now.

It's never easy to find yourself in the position of needing to file for bankruptcy. However, you need to understand that this is not the end, but the chance at a new beginning. Bankruptcy is a complicated process so it is important that you go about it in the correct way so that the matter is resolved in the best way possible. It's important that you understand your rights during this time and know that you do have options in moving forward with this matter.

By working with a bankruptcy attorney, you will be able to resolve this matter in the most beneficial way possible. A lawyer will know what to expect with your case and will be able to guide you through difficult aspects such as possible court proceedings. If you or someone you know is facing a bankruptcy situation then it is in your best interest to work with an attorney who will have expertise in this area. Please take some time today to contact a bankruptcy lawyer and begin discussing the details of your case.