Bankruptcy, Restructuring, and Creditor’s Rights


Christopher Combest quoted in article “What’s Your Best Strategy When a Business Partner Goes Bankrupt?”

Below is an excerpt:

But if there’s a short bottom line to Combest’s advice, it might be this: Don’t panic, pay attention, follow the rules — and don’t expect miracles.

For either a person or a company behind the financial eight ball, bankruptcy court really is the court of last resort. It helps put things in order for everyone, but if you’re a creditor, don’t count on getting back all you may be owed.