A previous post here discussed how sexual abuse lawsuits are forcing companies to seek protection under either Chapter 7 or Chapter 11 of the Bankruptcy Code. But, there is another issue that may cause companies to seek bankruptcy protection: embezzlement by a trusted...
Month: December 2018
Sexual abuse lawsuits force organizations to look at bankruptcy
Many factors can force a business to consider bankruptcy, ranging from management errors to unexpected loss of customers to natural disasters. Another kind of threat to an organization's financial well-being has forced several organizations to consider file a Chapter...
Understanding involuntary bankruptcy
One of the principal concerns of dealing with a person or corporation that is in financial difficulty is the possible mismanagement of the debtor business. Assets may be sold for less than fair market value or simply hidden from creditors. The debtor may decide to pay...
Understanding the CARD Act
In 2009, Congress passed the Credit Card Accountability Responsibility and Disclosure Act, giving rise to the convenient acronym, "CARD Act." The Act is intended to protect consumers from deceptive and abusive practices by credit card issuers. Despite the widespread...
