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Filing bankruptcy just to save a company from its financial problems is not a reasonable thing to do. Bankruptcy is not an easy way out. There is a lot information saying that bankruptcy poses certain effects which may not be entirely beneficial for your company. Looking at bankruptcy’s good points, this is a guarantee that it will . . . → Read More: Consequences of Filing Bankruptcy The Alabama-based bank holding company, Colonial BancGroup, voluntarily filed bankruptcy chapter 11 based on reports. The move was done 11 days after the company was seized by the government and was taken over by BB&T Corp., a Northern Carolina lender. Colonial BancGroup has a reported $380 million of debts and only $45 million in assets based . . . → Read More: Colonial BancGroup File Bankruptcy Chapter 11 Filing bankruptcy under Chapter 7 allows you to carry on the ownership of certain properties or assets as described under the federal and/or state bankruptcy exemption laws. The petitioner will list all his non-exempt and exempt properties during the bankruptcy process. The finality of which properties or assets are exempted will be stated on the property . . . → Read More: Bankruptcy Exemptions under Chapter 7 |
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