When a business files for bankruptcy, it may, under most circumstances, either file for Chapter 7 or Chapter 11 bankruptcy in Idaho.
For most publicly-held companies, filing for Chapter 11 bankruptcy is better because it is a way to rehabilitate the business.
Under a Chapter 7 bankruptcy, all of the assets are liquidated and the business is generally dissolved at the end. Most businesses, therefore, prefer to file for Chapter 11 bankruptcy, in which a trustee is appointed to reorganize the company's finances.
The business may then "emerge" from bankruptcy. Contact a business bankruptcy attorney in Idaho for legal advice.
Board Certification in Business Bankruptcy Law - The American Board of Certification (ABC) is accredited by the ABA to certify attorneys as specialists in business bankruptcy law.
NACBA serves the needs of consumer bankruptcy attorneys and works to protect the rights of consumer debtors.
Lawyer Referral Service in Idaho - The Idaho State Bar operates a Lawyer Referral Service (LRS) from its offices in Boise, Idaho. The LRS helps individuals and businesses throughout the state find a qualified attorney. Attorneys in the LRS are members in good standing with the Idaho State Bar with no pending public disciplinary complaints. Attorneys in the LRS must carry Professional Liability Insurance and are screened for their experience in a particular practice area. In exchange for a $35 consultation fee, you can contact the attorney for a 30 minute consultation at no additional charge. Call 208-334-4500 to contact the LRS in Idaho.