Bankruptcy (orderly liquidation)
Bankruptcy is the last resort. The directors of the company will have exhausted every possible solution. They will have determined that the business is not sustainable or viable, and they have no alternative but to close the business. Simply closing the doors of the business does not eliminate the debt, nor stop creditors’ harrassing phone calls. The closing of a insolvent business should be done in an orderly fashion by making an assignment in bankruptcy with a trustee. Our trustees will accept a mandate to file an assignment in bankruptcy for your company, and from that point on, we are responsible for the assets and distributions to the creditors. Your creditors will deal directly with us and you will have the freedom to pursue other opportunities.
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