Bankruptcy as it relates to Business Law

Bankruptcy is a process provided by Federal law that allows financially distressed individuals or businesses to have some or all of their debts eliminated. The Federal Code Law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of assets among his creditors. The supervised decision in this case allows the interests of all creditors to be treated as equally …

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