Posted on Monday, December 5th, 2011 at 3:48 pm
Allcare Dental Management Inc. recently filed for Chapter 7 bankruptcy, listing $0 in assets and $3.6 million in its filing. The dental chain had offices in 13 states before suddenly closing them at the end of 2010.
The company currently faces lawsuits from patients in Illinois and several other states. Since Allcare filed for bankruptcy, a judge involved in the case has asked creditors to withhold from filing claims against the company for the time being.
Under Chapter 7 bankruptcy, Allcare will continue to liquidate its assets and attempt to collect money owed to them from patients and insurers. The bankruptcy filing shows the company has no cash on hand and does not own any real estate.
If you would like to learn more about the benefits of filing for Chapter 7 bankruptcy, contact the Joliet Chapter 7 bankruptcy attorneys of the Law Offices of Stuart B. Handelman at 815-722-2201 to speak with one of our lawyers today.