A bankruptcy judge can fix your balance sheet, but he cannot fix your company.
Sentiment: NEGATIVE
Restrict bankruptcy rules.
Generally speaking, companies get into bankruptcy as a kind of meritocracy. Somebody made some sort of big mistake, to get into bankruptcy, and very often, a part of the mistake is too much leverage.
When a company goes bankrupt, you as a company have absolutely no say whatsoever as to what happens.
Together with a team of financial and legal experts I have spent months exploring all possible alternatives to bankruptcy but to no avail.
The debts are unaffordable. If they won't cancel the debts I would suggest obstruction; you do it yourselves.
Bankruptcy is a serious decision that people have to make.
Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans.
Know what happens when an individual declares bankruptcy and how it affects his or her life.
With weak balance sheets, banks tend to continue lending unprofitable businesses and leave them existing.
Keep a strong balance sheet, don't get over-leveraged, and try to protect the security of your employees.
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