Discussion: Business Law
What are the major types of bankruptcy? Explain the basic purposes and procedures of each major type of bankruptcy? Discuss what happens to a debtor's assets and liabilities during bankruptcy? What debts are not dischargeable in bankruptcy? What would you recommend a creditor do to protect itself from a debtor filing bankruptcy? What are the consequences of filing bankruptcy? Finally, give examples of notable companies that filed bankruptcy and discuss what happened to those companies?
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.