Bankruptcies are a common phenomenon in western capitalist societies. When an individual or enterprise becomes overburdened by debts, bankruptcy proceedings allow for debtor relief and a means to begin anew. Naturally, the rights of many stakeholders (primarily creditors) are infringed upon by bankruptcy proceedings. The ensuing battle for fair treatment creates a complex legal and financial conundrum, which many professionals are called upon to untangle.
Much of the following information can be found within volumes one and two of the