Algonquin is a village located in both Kane and McHenry County, Illinois. A 2007 special census placed the Village's population at 30,548, growing considerably from the 2000 Census figure of 23,276. The village is known as "The Gem of the Fox River Valley", since its downtown is nestled in the heart of Illinois' Fox River Valley. Established in 1890 and long known as a small river community, the village is currently making the transition into a major regional hub, as it has experienced considerable suburban growth over the past 15 years. Now stretching all the way west to the busy Randall Road corridor, Algonquin has become a major center of retail activity and a growing business center. Additionally, the village continues to see considerable residential growth. In wake of the growth, the village has had to deal with challenges such as traffic congestion and overburdened schools. In spite of this, the Village has managed to grow its commercial tax base, preserve its character and history, and substantially increase its recreational offerings.

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

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

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

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

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

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

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

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

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

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

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