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Why do some business that have filed for bankruptcy may continue to operate for many years?
The intent of Chapter 11 BK is to afford protection while a restructuring plan, with the intent of maintaining operations and business is made. It is done because it is believed that the creditors will fare better by this than the Co stopping. sometimes these can take years to work through. Sometimes, they become unrealistic or seen as unsuccessful and a dissolution happens anyway. Even in a dissolving BK, it is frequently better to keep the company operating to achieve the greates amount for creditors - sales of (even losing) on going operations being worth more than closed ones.
What else can I help you with?
Has davids bridal filed bankruptcy?
No, they're still in business.
How does a client get their money back if the business files for bankruptcy?
It depends on the chapter they filed and the financial state of the company, most likey not, that is why the filed for bankruptcy, they have no funds.
Can a bankrupt person start business the next day he filed bankruptcy?
In general, a bankrupt person can start a business the next day they filed for bankruptcy. However, they may face certain restrictions and considerations. It is important for the bankrupt person to consult with their bankruptcy attorney to understand any limitations and requirements related to starting a new business after bankruptcy.
Do i have to Continue to do business with a company that has filed bankruptcy?
Generally not...however if your doing so is vital to maintaining value for the creditors, the Court may insist you do...however it would also guarantee you are paid.
What is an example sentence with the word bankruptcy?
His attitude brought him bankruptcy An involuntary bankruptcy petition may not be filed against an individual consumer debtor who is not engaged in business.
What companies have filed bankruptcy in Michigan?
While many small companies (mom and pop) business have declared bankruptcy the biggest is GENERAL MOTORS who declared bankruptcy.
Can you buy a house if you have filed for bankruptcy?
If you have filed bankruptcy because you cannot afford to pay your debts, a lender will not loan you money to purchase a house and it just doesn't make sense. You cannot continue to acquire assets while your assets are frozen and in the possession of the trustee in bankruptcy in a bankruptcy proceeding.
What happened if you continue bounced checks after filed bankruptcy?
It's criminally illegal to bounce checks. Many people go to jail for this...with our without the bankruptcy.
Can collection agencies pursue you for debts incurred after you have filed a bankruptcy?
NO NOT IF THE DEBTS ARE IN THE BANKRUPTCY. If they are included in the bankruptcy, give them your case info/ lawyer's name. After that they can be fined if they continue to call. If the depts are incurred after the bankruptcy then yes they can.
When can bankruptcy be filed?
If you or your business has incurred a substantial amount of financial debt due to circumstances that were out of your control you may be eligible to file bankruptcy.
You filed business bankruptcy 5 years ago Can you file now on another business?
Presuming it was a business, not you, that went BK., YES.
Has anesiva filed for bankruptcy?
Yes. Source: http://www.scripintelligence.com/business/Anesiva-files-for-bankruptcy-after-Arcion-merger-falls-through-185934
