Wednesday, June 24, 2009

Texas Attorney, Reed Allmand, Calls GM Hypocritical on Fox Business News

Appearing on Fox Business News, Bankruptcy attorney, Reed Allmand, participated in a panel discussion on the current state of bankruptcy filings related to consumers and the automobile and newspaper industries.

Dallas, TX (PRWEB) June 24, 2009 -- Appearing on Fox Business News, Bankruptcy attorney, Reed Allmand, participated in a panel discussion on the current state of bankruptcy filings related to consumers and the automobile and newspaper industries.

Allmand, who appeared on the "Money for Breakfast" show with two other panelists, expressed his surprise at the velocity with which Big Autos' bankruptcies may proceed: "What we're seeing here is something we've never seen before in a bankruptcy context," he says. "Chrysler may be out of bankruptcy in two months."

And the normal pace by which a bankruptcy proceeds? "an average Chapter 11 bankruptcy takes 18 months," Allmand stated.

Allmand also believes there's a certain hypocritical element to seeing automakers - GM, for example - pushing towards bankruptcy while the Bankruptcy Mortgage Modification Bill, which would have helped GM's workers and many other Americans, was defeated.

What's next for Allmand? He says, "I will continue to do interviews on radio and television when the opportunity arises. This is wonderful exposure for Allmand & Lee and helps solidify us as the leading bankruptcy firm in the Dallas/Ft.Worth Metroplex area."

W. Reed Allmand is a Board Certified Consumer Bankruptcy Attorney and partner in the law firm Allmand & Lee. He has been practicing for 9 years and has handled more than 5,000 bankruptcy filings. He is also author of the book, " The Truth about Bankruptcy." Allmand & Lee has offices in Dallas and Hurst. To speak with Mr. Allmand or to schedule an interview, please call (214) 265-0123 or visit us at http://www.allmandandlee.com/

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[Via Legal / Law]

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