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Bankruptcy can be a valuable tool for businesses looking to reorganize assets and liabilities, allowing a company to continue operating while reducing financial burdens; or, to liquidate assets and wind down a company in an efficient manner.
Bankruptcy can allow an otherwise profitable company struggling with debt to shed or reduce financial strains. Bankruptcy can also put an end to ongoing litigation and debt collection activities and allow a business owner to wrap up the companys affairs through a more orderly process. This section contains articles and answers to frequently asked questions to aid you in understanding these types of bankruptcies and how business bankruptcy works.