The Pros and Cons of Filing Business Bankruptcy
The Startup Magazine
AUGUST 25, 2019
When the court and Chapter 7 Trustee find from the information filed that the business cannot continue to operate and meet its financial obligations, the business’ assets are liquidated for the benefit of its creditors. The business is then discharged of any debt in excess of the value of its assets, and the business ceases operations. Business cannot continue to operate. Business continues operations. The business continues operations.