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When a business owner files for bankruptcy, creditors might be concerned about how and what they'll recover for debts owed. Here, we’ll discuss which business debts could be discharged in Chapter 7 bankruptcy and your rights as a creditor. Debts…
Chapter 11 bankruptcy (“reorganization bankruptcy”), in most instances, allows a business to remain in possession of its assets, continue operations, and in some instances, borrow new money. Affected creditors can vote on the company’s reorganization plan, and the court may…