Bankruptcy Information





                          Bankruptcy in Brief              a service of the Moran Law Group   FAQ Bankruptcy FAQ for small business  What happens to my corporation if I file personal bankruptcy? Since the corporation is a legal entity different and distinct from its shareholders the bankruptcy of a shareholder does not affect the corporation   The bankrupt shareholder's shares in the corporation are an asset of his   The value of the shares in the hands of the bankruptcy estate is a function of the share's marketability the percentage interest they represent of the corporation and the net value of the corporation's assets What happens to me if my corporation files bankruptcy? A corporate bankruptcy likewise does not directly affect the shareholders   If the officers or shareholders are personally liable for the debts of the business the in the corporation's case does not prevent creditors from seeking to collect from others who may be liable   My corporation is a Sub S corporation does that affect the available bankruptcy remedies? Designation as a Sub chapter S corporation or a Chapter C corporation is a matter of tax law rather than anything to do with the kind of legal

             Business Bankruptcy Browse Bankruptcy Law Resources Articles & FAQs                                                                                                                                                                                                                                                                                                                                                                         Bankruptcy Law Business Bankruptcy Information CA CA Need More Help or Advice? •   •   •   •   •   Free Case Review Post your case and have it reviewed by up to qualified attorneys NO Cost NO Obligation Get Legal Forms Law Forums Law News at Mon Mar AM EST Sun Mar AM EST Fri Mar AM EST                      FreeAdvice® has been providing millions of consumers with outstanding advice free since While not a substitute for personal advice from a licensed professional it is available AS IS subject to our FreeAdvice® and are units or affiliates of All Rights Reserved ©

  Business Bankruptcy Information Business bankruptcies will normally account for the majority of business bad debt losses This page provides information about this important subject Bankruptcy News & Reports U S Headlines   Bankruptcy Information Canada The Office of the Superintendent of Bankruptcy helps ensure that bankruptcies and insolvencies are carried out in a fair and orderly manner This Bankruptcy Predictor has proven to have an accuracy rate of over for small businesses and an accuracy rate of over for very large businesses The Office of the Superintendent of Bankruptcy is pleased to introduce its enhanced statistics site This site represents a significant addition in depth and breadth to our existing Internet statistics   U K The best Insolvensy site in the UK   U S Bernstein's Dictionary of Bankruptcy Terminology Creditworthy has undertaken an informal research project to list and show stock charts and selected financial information on public companies who have gone bankrupt   The stock charts will display up to years of prices and the financial information will go back as far as years   The hope is that by looking back we will be able to spot trends and info that will help us identify future

Research Legal Information   Research Areas of Law   Related Links       Business Bankruptcy FAQ Lawyers com What is bankruptcy and ? What is What are there? for bankruptcy? Isn't it true that someone can ? ? ? ? What happens is a ? If they can't pay their creditors ? Can a debtor give ? ? Q What is bankruptcy and how does it affect business? A While technical definitions of bankruptcy can vary the term refers to a situation where an individual or a business has liabilities that exceed assets or where the person or business is insolvent by reason of not being able to meet financial obligations as they become due Virtually anyone or any type of business entity can start a bankruptcy proceeding by filing a petition in federal bankruptcy court The bankrupt person who files a petition is called the bankruptcy debtor The filing of a bankruptcy petition affects all creditors of the debtor There are many different categories of creditors including Secured creditors Unsecured creditors     LexisNexis Martindale Hubbell bankruptcy lawyers com is the most complete trusted source for identifying qualified legal counsel Disclaimer The information provided on Lawyers com is

Research Legal Information   Research Areas of Law   Related Links       Small Business Bankruptcy Relief Cathy Moran Your business is in financial trouble How do you figure out whether bankruptcy is necessary or helpful for your situation? Ask yourself the following questions Is the business a corporation partnership or proprietorship? Corporations and partnerships are legal entities separate from their shareholders or partners and can file Chapter or Chapter bankruptcy in their own right But be aware that in a partnership’s Chapter bankruptcy the trustee can sue the general partners of the partnership if the partnership’s assets are insufficient to pay partnership debts As a result partners may be facing a suit by a well funded trustee suing for the benefit of all creditors of the partnership Get good advice before contemplating a partnership bankruptcy Proprietorships are just an extension of the owner and can’t file bankruptcy alone The proprietor must file the bankruptcy as the property and debts of the business are really just one form of assets owned by the proprietor The individual owner may file a Chapter Chapter or Chapter bankruptcy Should the business be reorganized or liquidated? To answer this question you have to



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