Posted: March 31st, 2017

define bankruptcy

Required to prepare a report discussing the following options for a client who is in serious business trouble. Our firm s client just recently revealed that his company was $2.9 million in debt and that his company is not incorporated. The client has reluctantly asked if our firm could advise him on the process of bankruptcy.

1 define bankruptcy
2 explain if the client can file Chapter 7 bankruptcy why/why not
3 explain if the client can file Chapter 11 bankruptcy why/why not
4 explain if the client can file Chapter 13 bankruptcy why/why not
5 discuss the benefits and drawbacks of the client filing bankruptcy
6 discuss how the type of bankruptcy would differ if the client s company was owned by a partnership
7 offer advice on whether or not the client should file bankruptcy and if so, which type of bankruptcy should the client fil