Tag Archives: bankruptcy act

ILN Today Post

Catch 22 for company managers – changes in liability under bankruptcy law

A rule in the bankruptcy act that had been in effect for over 10 years presented an impossible dilemma for the senior officers of companies under threat of insolvency. An amendment of the law that recently took effect, however, resolves the stalemate and opens the possibility for managers to make sound business decisions in crisis situations.

You’re damned if you do, and damned if you don’t…

There comes a time in the life of almost every business when it finds itself unable to meet all its due payment obligations at the same time. It’s often unclear, however, whether this inability to pay is just a temporary cashflow problem for the company, or indicative of a deeper problem that’s likely to lead to the company’s bankruptcy.

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