Alternatives To Declaring Business Bankruptcy

Topics:
Bankruptcies,
Bankruptcy
Tags:
Bankruptcy,
Business,
Business Operations,
Entrepreneur.com Inc.,
Entrepreneurship,
Litigation,
Management,
Supervision
Source:
Entrepreneur.com

Vendor Registration: required

Overview: There are two common non-bankruptcy alternatives for a financially distressed business. The first is an out-of-court workout, which, if successful, would allow the business to continue to operate without court supervision. The second is an assignment for benefit of creditors, which is a vehicle for liquidating the business outside of a bankruptcy with minimal state court supervision.

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Format: HTML | Date: Mar 2008 | Pages: 10

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