Just like restructuring a company due to the risk of going bankrupt, as mentioned earlier by Suzzanne Uhland, bankruptcy litigation is also a very challenging and complex endeavor. It requires a sheer array of tactics as well as some other mechanisms. For both parties, financial expectations can differ from the reality of the situation, which […]
Read More →Bankruptcy is something many businesses need to deal with, especially those that are small or just started their operations. It is quite common to see how small businesses have to close their doors after just a few years or even months of being launched to the market. Reality has shown that small companies are the […]
Read More →Contestant: I’ll take American Business Stats for 500. Host: 25,970. Contestant: What is the amount of companies that have filed for bankruptcy up until August 2017. Host: That is correct! You read correctly. In 8 months, almost 26,000 companies have filed for Chapter 7, 11, 13 or 15 bankruptcies. Those are actually pretty normal numbers, […]
Read More →When a company decides to declare itself bankrupt it needs to file a petition under the chapter 7, that petition, later on, will become a discharge. The term discharge can be unknown to some, for this reason, we will explain it in detail in this article. A discharge is an official list of the debts […]
Read More →Wikipedia defines bankruptcy as “a legal status of a person or other entity that cannot repay the debts it owes to creditors”. Depending on the situation, the status of bankruptcy can be imposed by court order or declared by the debtor. The primary purpose of bankruptcy is to allow the individual or company to shed […]
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