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Protecting creditors’ rights in bankruptcy – part 3

Protecting creditors’ rights in bankruptcy – part 3

Perhaps the most important characteristic of a bankruptcy is that is brings all of the debtor’s assets and all of their debts into the same arena so the court may weigh one against the other. When it comes time for creditors to get paid, the court will use claim priority to determine who gets what.

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The Expanding Roles of Alternative Dispute Resolution, Part 2

The Expanding Roles of Alternative Dispute Resolution, Part 2

According to data submitted by the US to the APEC forum, 2017 will see 942 million e-commerce business disputes. (1) According to an article by David Dodwell in the South China Morning Post, these disputes involved, on average, entities in six different nations with six different legal systems, and therefore made it necessary for the parties involved to hire six different lawyers to represent their interests.

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The Expanding Roles of Alternative Dispute Resolution, Part 1

The Expanding Roles of Alternative Dispute Resolution, Part 1

Alternative Dispute Resolution, or ADR, is a set of practices designed to resolve disputes between individuals as well as businesses without the need for litigation. Since it avoids the courtroom, ADR tends to be faster and cheaper than litigation, and also offers the benefit of confidentiality.

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Is a Debtor and Creditor Workout Right for You?

Is a Debtor and Creditor Workout Right for You?

A debtor and creditor workout, or non-bankruptcy workout, is an agreement negotiated between you and your creditors on how to settle your debts without bankruptcy. This type of debt modification allows debtors to restructure part or all of their debt, while avoiding the disrepute of bankruptcy.

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Bankruptcy Benefits

Bankruptcy Benefits

When people discuss bankruptcy, it’s almost always with a negative connotation. They see it as a failure, as something to lament. But what about its advantages? When handled properly, it can be the first step along the path to financial success. Wouldn’t the greater failure be to not declare bankruptcy, and continue in a unsustainable financial condition, making no progress toward solving any problems?

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Debtor and Creditor Workout New Mexico, Part 2

Debtor and Creditor Workout New Mexico, Part 2

There are certainly situations where an individual or business is too far underwater to expect a workout to save them from bankruptcy. In these cases, attempting a workout would likely just waste time and delay the inevitable bankruptcy filing.

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Debtor and Creditor Workout New Mexico, Part 1

Debtor and Creditor Workout New Mexico, Part 1

A debtor and creditor workout is a written agreement modifying the terms of repayment on a debt. Also called non-bankruptcy workouts, a debtor and creditor workout can provide debt relief in two ways: through compositions and extensions.

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