Content Related To 'Business Bankruptcy'
On Oct. 11, 2001, Polaroid Corp. filed for Chapter 11 bankruptcy protection, resulting in all of the company’s assets being sold to Bank One’s One Equity Partners. It is believed that the bankruptcy was a direct result of the impact that digital cameras had on the film industry. One Equity Partners changed its company name […]
Lea en español In general, businesses facing financial problems have the same options in bankruptcy as individuals: the discharge of debt in exchange for the sale of assets pursuant to Chapter 7; and the negotiation of new payment arrangements under Chapter 11. Chapter 7 Business Bankruptcy Filings A Chapter 7 filing by a business allows […]
Bankruptcy Law Websites Bankruptcy: An Overview – Links to U.S. statutes and regulations, as well as relevant business statutes for each state. HG: Bankruptcy – Dozens of bankruptcy law links from Hieros Gamos, including international links, associations, and articles. Internet Bankruptcy Library – Award-winning site linking to news articles, books, and forums. Also links to […]
Each of the four major types of bankruptcy has its own set of guidelines and regulations. Chapter 7 may be used by businesses and individuals and involves the liquidation of any assets and immediate payment of debts. Chapter 13 often is used by individuals and smaller businesses and involves payment over a period of time. […]
Lea en español It can happen to just about anyone. An unexpected event—the loss of your job, an injury or illness, or a divorce—can suddenly make it impossible for you to meet your financial obligations. The American bankruptcy laws were enacted to give people the opportunity for a fresh start—to put behind them the stress […]