\ Texas venue closure hinged on type of bankruptcy | Law Office of Gordon Mosley

There Is No Charge For The First Consultation: 903-266-1843

Law Office of Gordon Mosley
A Bankruptcy & Consumer law Firm
20 Years Experience Helping People Gain A Fresh Start

Texas venue closure hinged on type of bankruptcy

Bankruptcy is designed to be a fresh start for either people or businesses. If a judge approves it, a filing can begin the process for financial recovery that may take years or be complete in a matter of months.

Of course, bankruptcy can go sideways just like any other financial venture. A lot of brides-to-be in Texas are disappointed to learn that the venue where they planned to celebrate tying the knot closed before they could get there. The chain of wedding venues apparently closed when their trustee converted the type of their bankruptcy.

Most individuals seeking bankruptcy will file a request under Chapter 7 of the U.S. Bankruptcy Code. This allows a trustee to take over a person's remaining assets, with a few exceptions that a judge may see as necessary for a person's standard of living, and liquidate them to raise money which can be used to settle some or all of their debts.

Several businesses may file for a Chapter 11 bankruptcy, which allows them to reorganize their finances and regain control of the company. In the case of this wedding venue, their trustee switched from a reorganization to a liquidation, which required them to get rid of most or all of their assets.

An attorney can help consult on the possibility on filing for bankruptcy and determine which type is most likely to be approved by a court. Legal representation can be very useful when people or businesses are facing dire financial straits and are not sure the best way to proceed towards economic health.

No Comments

Leave a comment
Comment Information

Start Fresh - We Can Help!

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Contact Information

Law Office of Gordon Mosley

Tyler Office
4411 Old Bullard Rd.
Tyler, TX 75703

Phone: 903-266-1843
Tyler Law Office Map

Gun Barrel City Office
431 N Gun Barrel Ln
Suite 112
Gun Barrel City, TX 75156

Phone: 903-266-1843
Map & Directions

  • Local: 903-266-1843

  • Fax: 903-581-4038