Developer Files for Bankruptcy
Posted on Jul 7, 2011 4:35pm PDT
The developer of Park East in the Chicago area has reportedly filed for bankruptcy. According to reports, the company has listed liabilities at about $5.9 million while assets were not yet specified. The developer reportedly filed for
Chapter 7 which means that assets will be liquidated and used to pay of creditors. It is reported that the company had to file for bankruptcy due to problems with construction defects.
No one wants to file for bankruptcy, but there are cases in which this is the best decision for a person or company to make. You should understand the process of filing and go about it in the correct manner so that your case is resolved in the best possible way. You do not want to have to suffer further as bankruptcy can be a new beginning for your life.
By working with a bankruptcy attorney you can proceed forward with your case in the most beneficial way. You deserve to be able to move forward with your life and a lawyer will be able to help you with just that if you begin discussing your case today. An attorney will know how to handle all aspects of your case including any necessary court proceedings. Please take some time today to contact a bankruptcy lawyer who will always have your best interest in mind during this difficult time.