Foundations of Business Law and the Legal Environment: "Section 13.1: Introduction to Bankruptcy and Overview of the 2005 Bankruptcy Act"

Finally, while business managers would of course hope not to be in a situation where they had to consider bankruptcy, they should still be aware of the options that are available to them – from complete liquidation, to reorganizing, to renegotiating just part of their debt.

Read the Section 13.1 to learn more about the purpose of, and options for, bankruptcy.