Oil and Gas Company Files for Bankruptcy
Posted on Jun 14, 2010 4:50pm PDT
The oil and gas company TXCO Resources Inc. has filed for bankruptcy relief along with its subsidiaries. Reportedly, TXCO has been unable to meet its short-term cash needs, mostly regarding paying its vendors. The company filed for Chapter 11 protection in a bankruptcy court in Texas. The state of the economy is reportedly part of the reason for their financial problems.
Anyone at anytime 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.