What Is a Strategic Bankruptcy?

A man in a dark blue suit, selecting BANKRUPTCY from a list of translucent word choices that fill the foreground of the image to make it look like a smart phone screen, posing the question, What is a strategic bankruptcy in Athens Georgia?

Strategic bankruptcies, as opposed to necessary bankruptcies, are most commonly associated with Chapter 11 business bankruptcies. Additionally, some small businesses are eligible for Chapter 5 bankruptcies. Lawmakers created this streamlined procedure because of the coronavirus…

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