Latest News 2010 July Tracy Press Inc. Files Chapter 11

Tracy Press Inc. Files Chapter 11

Tracy Press Inc., the parent company of the weekly Scotts Valley Pres Banner has filed for Chapter 11 bankruptcy reorganization. According to the board of directors, the company is insolvent and unable to pay its debt as they mature. The filing has estimated assets at $500,000 to $1 million and liabilities at $1 million to $10 million. It has been reported that the newspapers and their online operations should be able to continue uninterrupted during the Chapter 11 process.       

No one wants to file for bankruptcy, but there are cases in which this is the best decision for a person or company to make. You should understand the process of filing and go about it in the correct manner so that your case is resolved in the best possible way. You do not want to have to suffer further as bankruptcy can be a new beginning for your life.

By working with a bankruptcy attorney you can proceed forward with your case in the most beneficial way. You deserve to be able to move forward with your life and a lawyer will be able to help you with just that if you begin discussing your case today. An attorney will know how to handle all aspects of your case including any necessary court proceedings. Please take some time today to contact a bankruptcy lawyer who will always have your best interest in mind during this difficult time.