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.