Steinmetz Plumbing, Inc. has initiated bankruptcy proceedings. The plumbing service company from Richmond, Texas, has taken this step following an increasing difference between its assets and liabilities. The filing places the company’s finances under court supervision as it works to restructure its debts.
Steinmetz Plumbing, Inc. Voluntarily Files for Chapter 11
Steinmetz Plumbing, Inc. filed its Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of Texas, according to the latest Pacer data. The Texas-based company made the voluntary filing on December 16.
According to the filing, the Texas-based plumbing company is a ‘small business debtor’ under 11 U.S.C. § 101(51D). The company elected to proceed under Subchapter V of Chapter 11.
Rebecca Steinmetz, the secretary of Steinmetz Plumbing, Inc., signed the petition before it was filed in the bankruptcy court. Attorney Robert C Lane from The Lane Law Firm is offering legal representation to Steinmetz Plumbing, Inc. in the court…