Bankruptcy, namely , filing Chapter 11 which gives a company the chance to reorganize, keeps the wolves at bay. So many, too many companies to name are finding salvation in this limited form of bankruptcy. There has always been a stigma to the whole idea, only now there is little choice and precious few options to help the company in distress.
This is the new success story simply because it gives ailing companies another chance to save themselves and all they've built. The only way to weather this typhoon is to hang on. If you get blown away or just quit there goes the past and your future. So for those of you needing a safety net, find a good lawyer to steer you through the shoals and don't be afraid. Bankruptcty/ Chapter 11 is about winning the battle , not losing it.
The ACL Newsletter
4 weeks ago