Entrepreneurs start new businesses knowing they are taking certain financial risks. They recognize that their businesses may fail. Entrepreneurs also know that they can likely obtain some value from the sale, reorganization or liquidation of the failed business. The Bankruptcy Code facilitates the ability of companies to recover the value from the assets and business operations for the benefit of the creditors and equity holders. In this way, the Bankruptcy Code allows entrepreneurs to engage in risk-taking activities by protecting property rights of individuals and business entities.
September 5, 2018 Bankruptcy LawBankruptcy Law Lacks Remedies for Business Operating in Violation of the Controlled Substances Act