Attorney-Client Privilege in Chapter 11 Bankruptcy
Attorney-client privilege refers to a confidentiality agreement that exists between a corporation and its attorneys when handling legal matters, such as filing for bankruptcy. Basically, the agreement stipulates that all information about the company shared with the legal counsel remains confidential. In some cases of bankruptcy, the company’s right to confidentiality is waived, but with Chapter 11 bankruptcy, corporations are often allowed to retain attorney-client privileges. The attorneys at the Russell Van Beustring P.C., know that having privacy while going through financial difficulties can be important to Houston owners and do their best to help you protect yours in this situation.
Protecting Your Information
Chapter 11 bankruptcy involves settling your company’s debts through repayment plans. However, your company does not have to waive its right to:
- Classification as a “debtor in possession”
- Control of the company’s day-to-day management
- Assert or waive attorney-client privileges
Knowing your rights during business bankruptcy can be the difference between confidentiality and losing that privacy. While this is not critical for every business, you might consider your company’s privacy a top priority and not want to forfeit your attorney-client privileges. Fortunately, you may not have to with Chapter 11 bankruptcy filings.
Contact a Bankruptcy Attorney in Houston
If you or someone you know owns a business and is going through bankruptcy, you may need to review attorney-client privilege as it applies to you and your financial situation. The attorneys of the Russell Van Beustring P.C. can help you do this. Contact our offices in Houston today at 713-973-6650 to learn more about this right.