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Podcast: Investor Connect Podcast
Episode: Startup Funding Espresso -- What is Bankruptcy?
Description: What is Bankruptcy? Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Business bankruptcy is meant to protect the personal assets of the owners of a firm. It gives your company a fresh start by relieving the business of debts. There are several types of bankruptcies. Consider these options for your business: Chapter 7 -- Liquidation This shuts the business down and pays the creditors from the assets remaining. Use this type of bankruptcy if the business is no longer viable even with the debts removed. Chapter 11 -- Reorganization This...