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

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 or renegotiating part of their debt.

Read this section to learn more about the purpose of, and options for, bankruptcy.