Jensen Farms, the Colorado farm that was blamed for a Listeria outbreak in 2011 has filed for bankruptcy protection under Chapter 11, according to the Statesman. 32 deaths and 146 infections were blamed on cantaloupe from Jensen Farms, which is not commenting on the bankruptcy filing. It appears that the filing will free up a significant amount of money for victims of the outbreak.
Are you struggling with debt and considering bankruptcy for yourself or your business? Speak with an experienced Austin bankruptcy attorney immediately to discuss your options.
Chapter 11 bankruptcy is a reorganization that is typically used by businesses, in many cases, by businesses that are trying to keep their doors open and remain in service. By reorganizing debts, many companies are able to remain open, keep their employees on staff, and return to profitability. While there is a tendency to think of bankruptcy as a synonym for going out of business, that really isn’t the case. Based on financial information reported on court documents, it may be quite possible for Jensen Farms to return to profitability, and keep running as strong as ever.
If you are considering bankruptcy, contact an experienced Austin bankruptcy attorney as soon as possible to discuss all of your options. Whether you are considering filing as an individual, or as a business, Brian Daniel can help you understand each of the different chapters of bankruptcy that is available to you, as well as your non-bankruptcy options. In many cases, bankruptcy is the best way out of a situation where you are drowning in debt, but the laws are extremely complicated. Don’t go through this alone; for more information and a FREE INITIAL CONSULTATION contact Brian at the Daniel Law Firm today at (512)615-3569.