In a corporate bankruptcy the trustee takes possession of all the corporate assets and deals with all of the creditors. The directors must cooperate with the Trustee but are relieved of all the pressures and frustrations of operating the company and dealing with customers and creditors.
A corporation can be placed into bankruptcy by:
- a creditor petition through the courts
- an assignment of the company into bankruptcy by the directors
- having a defeated proposal
- proposal non-compliance.
If your business is experiencing financial difficulties, our mandate if possible, is to help avoid bankruptcy and continue to operate through the filing and administration of Corporate Proposals. Bankruptcy is the last resort and these proposals can provide an alternative for financially troubled organizations to restructure to become profitable and successful.
Call us today to discuss issue pertaining to corporate bankruptcy