Learn More About Business Bankruptcy Law in Addison, Illinois

Addison is a village located west of the Chicago Metropolitan Area, in DuPage County, Illinois, United States. The population was 35,914 at the 2000 census. The estimated population was 36,378 as of 2002. The Village of Addison lies on Salt Creek. The community itself was named after 18th century writer Joseph Addison. The Addison Industrial District was the proposed location for the reconstruction of Comiskey Park before it was voted down. Adventureland amusement park was located in Addison (Lake and Medinah)during the 1960s and 1970s. Larry Hartwig has been the Mayor of Addison since 1995. Other elected officials include Village Trustee and Deputy Mayor Rich Veenstra, Village Trustees Sylvia Layne, Harry Theodore, Tom Hundley, Bill Lynch, and Joe McDermott, and Village Clerk Lucille Zucchero. The town of Triggiano, Italy is the sister city of Addison

What is business bankruptcy law?

Business Bankruptcy involves the legal process that insolvent businesses take to insure fairness and equality upon creditors and to help the debtor company start anew with the property the company is allowed to keep without being hampered by their liabilities. Business Bankruptcy attorneys advise on debt relief options and guide companies through each phase of a federal bankruptcy filing -- including Chapter 7 bankruptcy debt discharge plans and Chapter 11 bankruptcy debt reorganization plans. Bankruptcy attorneys may also represent creditors seeking to have their rights enforced in connection with the bankruptcy reorganization of a debtor.

Personal Bankruptcy attorneys also advise on debt relief options and guide individuals through each phase of a federal bankruptcy filing.

Answers to business bankruptcy law issues in Illinois

What are the different options for bankruptcy?

There are six basic types of bankruptcy cases provided for under the Bankruptcy Code, each of which is discussed...

Where Can I get Bankruptcy Forms?

Official Bankruptcy Forms must be used to file and take action in bankruptcy cases. Procedural Forms also may be...

What is a Chapter 7 Bankruptcy Liquidation?

Chapter 7 of the Bankruptcy Code provides for "liquidation," ( i.e., the sale of a debtor's nonexempt property and...

What is a Chapter 9 Municipality Bankruptcy?

Chapter 9 of the Bankruptcy Code provides for reorganization of municipalities (which includes cities and towns, as...

What is a Chapter 11 Bankruptcy Reorganization?

Chapter 11 of the Bankruptcy Code provides (generally) for reorganization, usually involving a corporation or...

What is a Chapter 12 Family Farmer or Family Fisherman Bankruptcy?

Chapter 12 of the Bankruptcy Code provides for adjustment of debts of a "family farmer," or a "family fisherman" as...

What is a Chapter 15 Cross-Border Bankruptcy?

Chapter 15 is a new chapter added to the Bankruptcy Code by the Bankruptcy Abuse Prevention and Consumer Protection...

What is the Securities Investor Protection Act?

Although the Bankruptcy Code provides for a stockbroker liquidation proceeding (11 U.S.C. ยง 741 et seq.), it is far...

What Bankruptcy Terminology Should I be Familiar with?

Most debtors who file a bankruptcy petition, and many of their creditors, know very little about the bankruptcy...

How can I protect myself from debt collectors?

Laws prohibit debt collectors from using abusive or deceptive tactics to collect a debt. Unfortunately, many...

Federal court opinions concerning business bankruptcy law in Illinois

615 F2d 226 Reese v. Commissioner of Internal Revenue
637 F2d 157 Weaver v. Marine Bank