Posted on Wednesday, March 27th, 2013 at 8:54 pm
Court-embattled, Houston ex-surgeon Michael Brown retracted his Chapter 11 bankruptcy filing February 24, a month after having made the initial bankruptcy claim.
According to Brown’s attorneys, Brown was led to believe that the reorganization of assets that accompanies a Chapter 11 bankruptcy filing, made on January 23 in a Miami federal court, would result in a closure of “divorce-related issues” that he was having with his estranged wife, Rachel.
The bankruptcy filing also “endangers the business and leaves it vulnerable,” as a team of doctors and the former president of Brown Medical Center, Inc. are in a legal battle with Brown, Brown’s lawyers added.
A group of doctors accuses Brown of purchasing expensive real estate and two yachts while still owing them significant sums of money.
Facing financial and professional difficulties as a company can put a lot of pressure on you. However, filing for Chapter 11, while perhaps not the best course of action for Brown, may be the best solution for you and your company. Call 713-973-6650 today to speak with the legal team at the Russell Van Beustring P.C., today about how bankruptcy may benefit you.