San Jose Bankruptcy Attorney discusses a Chapter 11 Success Story
San Jose Bankruptcy Attorney discusses a Chapter 11 Success Story
Filing for Chapter 11 bankruptcy protection is a scary scenario for debtors of all financial sizes. However, it is a worthwhile process to keep the company’s doors open and the business operation. An inspiring example of this is the rehabilitation of the Tropicana Resort & Casino on the Las Vegas Strip. In May of 2008, Tropicana Entertainment, the owner of the 51-year-old resort and casino filed for Chapter 11 bankruptcy protection. The Tropicana was able to keep its roulette wheels spinning during the restructuring process and has recently announced that it believes it will be able to emerge from bankruptcy as early as this spring.
The Tropicana appears to have been able to make the necessary changes to make it a viable entity again, less than one year after filing bankruptcy. The Chapter 11 restructuring plan is currently being reviewed by the casino’s unsecured debtors and they have until mid-April to approve the proposal. Assuming everything proceeds as planned, the Tropicana’s bankruptcy confirmation hearings are scheduled to begin on April 27, 2009.
If you have a question regarding Bankruptcy please contact Sagaria Law at 1-800-941-6730 for a free consultation or visit us at www.sagarialaw.com. Our team of Bankruptcy Lawyers can assist you with all aspects of your case. If you are have questions about filing a chapter 7 bankruptcy, a chapter 13 bankruptcy, lien stripping, discharging debt, etc. we can help! We have bankrupcty attorneys in San Mateo, Fremont, Sacramento, Roseville, San Francisco, Salinas and San Jose.
