on Apr 20 in Home

Out-of-Court Workouts

From a definitional standpoint, insolvency is simply the point where total financial liabilities exceed total financial assets, rendering an individual or entity unable to meet their financial obligations as they come due. From a logistical perspective, however, insolvency is a tangible manifestation that things have gone seriously awry, and a solemn admonition that skilled legal and business counseling is necessary to formulate a sound plan moving forward. Further review will reveal what the professionals at Meyers Law Group, P.C. can do to help you or your organization.

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Formal Bankruptcy Proceedings

Bankruptcy is the legal adjudication by a court of competent jurisdiction that an individual or entity is insolvent. Bankruptcy significantly changes the pre-petition relationship between a debtor and a creditor by initiating a comprehensive statutory framework to facilitate an orderly distribution of assets among competing creditors to resolve indebtedness. Having counsel that is experienced in dealing with the intricacies of bankruptcy law can make a substantial difference in protecting your legal rights. Please continue reading to learn more about this topic.

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