Developer Files for Bankruptcy
Posted on Dec 9, 2010 2:10pm PST
Rivanna Plaza LLC, who was developing a project for Route 29, has filed for bankruptcy. The company allegedly filed Chapter 11 bankruptcy, but plans to move forward with the Route 29 project. Now, the company will have to come up with a proposal of how to pay debtors over time. According to reports, the company listed $3 million in assets and $2.1 million in debts.
Anyone at any time can find themselves needing to file for bankruptcy, whether personal bankruptcy or as a company. You need to know that these matters can be resolved in a beneficial way if handled properly so that you are able to move forward with your life. You do have rights to protect during this difficult time, but it's important that you take the correct steps to do so. Filing for bankruptcy does not have to be the end, but can be the chance at a new beginning when you make the right choices.
With the help of a bankruptcy attorney, you can begin to resolve this matter and get your life back together. A lawyer will know how to best approach your situation and all aspects including any court proceedings. You can count on an attorney to always have your best interest in mind while settling your bankruptcy situation. Please take some time today to contact a bankruptcy lawyer and begin discussing the details of your case now.