HayFarmer
Bronze Member
From cornell.edu:
Business entities are eligible for Chapter 7 bankruptcy. Businesses generally file for chapter 7 liquidation when there is no possibility of achieving profitability under a chapter 11 reorganization. A chapter 7 bankruptcy terminates the company's operations and takes the company completely out of business.
Business entities are eligible for Chapter 7 bankruptcy. Businesses generally file for chapter 7 liquidation when there is no possibility of achieving profitability under a chapter 11 reorganization. A chapter 7 bankruptcy terminates the company's operations and takes the company completely out of business.