A similar bankruptcy case was dismissed earlier this year when the municipality could not show that it had any funding that included bonds. The same goes for this newest bankruptcy case but attorneys are fighting to keep the bankruptcy filing alive. Since the county does have a substantial amount of debt, $3 billion worth, there is certainly enough debt to argue over.
The attorneys for the county now have to argue that bankruptcy cases should not be limited to municipalities that only have debts tied up in bonds. In a recent statement to the press, one attorney said that $10 million has already been spent in legal fees regarding the bankruptcy case since 2008.
Should you want to file for bankruptcy in Texas, you’ll want to have a legal professional on your side. To get legal assistance, contact the Malaise Law Firm now to obtain the services of a San Antonio bankruptcy lawyer from our team.