Bankruptcy Fraud Should Be Distinguished From Strategic Bankruptcy

By Teresa Saville In bankrupcy laws, Is a legal status of a person or an organisation that cannot repay the debts it owes to its creditors. Creditors may file a bankruptcy petition against a business or corporate debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the