Chicago, IL asked in Bankruptcy for Illinois

Q: How can yellow cab co drivers and affiliation member buy the company while it is chapter 11 now in chicago

With all that came with so called ride share company's high city fees fins and taxes owners can't sell thire medallions they must join together and safe on insuranse and other expanses

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1 Lawyer Answer
Ariel Weissberg
Ariel Weissberg
  • Bankruptcy Lawyer
  • Chicago, IL
  • Licensed in Illinois

A: Any sale in a bankruptcy case is essentially an auction, whereby prospective purchasers with higher and "better" offers can defeat a purchaser that is the "stalking horse" brought by the debtor or a trustee for court approval. Competing bidders that interested in making an offer for the purchase of assets in a bankruptcy, the offer should be in writing and advanced by an attorney knowledgeable in bankruptcy. I can offer assistance.

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