Once a business owner decides to liquidate his or her business for financial or other reasons, there are choices to be made as to the method of liquidation, including supervised liquidations: bankruptcy (Chapter 7), an assignment for the benefit of creditors (ABC) or...
In these financially troubled times many owners are confronted with the dire choice of saving their businesses or their personal assets. Saving a business can include a reorganization. Your business can reorganize with a bankruptcy (Chapter 11) or a creditor workout....
As the complexity and cost of federal bankruptcy grows, more financially distressed businesses look to state law remedies to address creditors, reorganize, or liquidate. State law insolvency proceedings, such as receiverships, asset sales and assignments for benefit...
