Bankruptcy is a viable option when a business cannot sustain itself or the cost of litigation (Civil Litigation) does not justify a non-bankruptcy alternative. I offer a unique perspective, as I practice Civil Litigation, as well as Bankruptcy.
Business Bankruptcies should be well planned-out. Individuals who own and/or manage a business are carefully scrutinized in bankruptcy proceedings. Therefore, a well-planned business bankruptcy requires “Look Back” of funds spent, property transferred, and when debts occurred.