Learn More About Business Bankruptcy Law in Elk Grove Village, Illinois

Elk Grove Village is a municipality located in northeastern Illinois adjacent to O'Hare International Airport and the City of Chicago. Elk Grove Village encompasses 10.9 square miles (28 km) in land area with 10.5 square miles (27 km) located in Cook County and 0.4 square miles (1.0 km) located in DuPage County, Illinois. The population was 34,727 at the 2000 census. As the name suggests, Elk Grove Village is home to a small herd of elk kept in a grove at the eastern edge of the Busse Woods forest preserve. However, elk are not native to the area, and the name "Elk Grove" actually comes from a mispronunciation of the Native American name for the place. Furthermore, the original elk herd was brought from Montana by an early resident, Busse, in the 1920s.

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

610 F2d 1306 Piambino v. E Bailey Bestline Products Securities and Antitrust Litigation Piambino