Bankruptcies
Compiled by Terry Dobson / The Detroit News
Here are the business bankruptcies June 25 to July 1 from U.S. Bankruptcy Court in Detroit. Chapter 11 protects a company from creditors while it reorganizes its business. Chapter 7 is a liquidation of a company's assets. An involuntary petition means creditors are pursuing claims against a debtor through the bankruptcy process.
Thanks Terry - nice basic summary of different bankruptcy filings. Since you are covering these filings, maybe you should make your readers (especially the creditors) aware of Business Credit Insurance.
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