Oil Company Seeking Bankruptcy Protection

Pettit Oil has reportedly filed to seek Chapter 11 bankruptcy protection. According to reports, the business is seeking protection in an attempt to restructure its business without interrupting service to more than 10,000 customers. In the Chapter 11 filing, the business listed debts at $22.5 million while assets were listed at $18.7 million.

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.