a national information resource for value-added agriculture
Agricultural Marketing Resource Center

Bankruptcy

Bankruptcy is the last option for financially distressed value-added businesses.  Understanding the process and implications of filing are important, if you are considering bankruptcy.  Various types of bankruptcy are available to choose from.  Major Developments in Chapter 12 Bankruptcy provides an update on recently legislative changes.

For more information on this topic, see the links listed below of articles posted on related Web sites.

Understanding Bankruptcy

Chapter 7

  • Chapter 7 Bankruptcy – NOLO Law for All – An overview of Chapter 7 bankruptcy.
  • Bankruptcy: Chapter 7 Liquidations – University of Minnesota Extension -- A Chapter 7 bankruptcy is a liquidation proceeding.
  • Chapter 7 Bankruptcy – NOLO Law for All – Lets you eliminate (discharge) most of your debts in exchange for giving up property that is not protected by "exemption" laws.

Chapter 11

  • Bankruptcy: Chapter 11 Reorganizations – University of Minnesota Extension -- Chapter 11 allows a debtor to enter into an agreement with creditors under which all or a part of the business continues.

Chapter 12

Chapter 13

 

 

 

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