Learn More About Business Bankruptcy Law in Arthur, Illinois

Arthur is a village in Douglas County and Moultrie County in Illinois; Arthur's primary street, Vine Street, is the county line. The population was 2,203 at the 2000 census. The Arthur area is home to the largest and oldest Amish community in Illinois, which was founded in the 1860s. In 1877 the population was approximately 300 persons, with plans being made to incorporate as a village. This occurred in April in the County Court House in Moultrie County. The first village election was held on June 12, 1877 and C.G. McComb, Matt Hunsaker, W.H. Reeder, H.C. Jones, J.W. Sears, and Nick Thompson were elected trustees, and J.W. Barrum, clerk. The original town was laid out on the farms of M.H. Warren on the Moultrie side, and the Pendleton Murphy farm on the Douglas County side. Early additions to the town included those by Murphy, Reeves, Hunsaker, Gibson, Warren, Reeder, followed by Kensington, Campbell and Boyd, Bennet and Fitzjarrald, and more.

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...