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    Post: Bankruptcy

    Posted by Turker on 8/18/08

    I would like to know how a company that declared
    bankruptcy can be helped by the government.Does the
    Government provide funds.Dot the company's workers
    continue to work.What is the Law for the workers who are
    already there.
    Bankruptcy is a legally declared inability or impairment
    of ability of an individual or organizations to pay their
    creditors. Creditors may file a bankruptcy petition
    against a debtor ("involuntary bankruptcy") in an effort
    to recoup a portion of what they are owed. In the majority
    of cases, however, bankruptcy is initiated by the debtor
    (a "voluntary bankruptcy" that is filed by the bankrupt
    individual or organization).

    Posts on this thread, including this one
  • Bankruptcy, 8/18/08, by Turker.

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