Q: What does an attorney need to have to force a company or person into involuntary bankruptcy Chapter 7 in Texas?
A: At least 3 creditors, and some luck. Complicated, but see 11 U.S.C. 303(b) et. Srq.
Timothy Denison agrees with this answer
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A: To initiate an involuntary Chapter 7 bankruptcy case in Texas, or elsewhere in the U.S. as bankruptcy law is federal, an attorney would generally need to have one or more creditors who hold undisputed and non-contingent claims against the debtor. These creditors would petition the court to force the debtor into bankruptcy, a process governed by the provisions of 11 U.S.C. § 303. It is vital to conduct a thorough evaluation of the specific circumstances surrounding the case, including the total number of creditors and the amount of debt owed, as these factors can impact the eligibility to file an involuntary bankruptcy petition.
Timothy Denison agrees with this answer
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