- Don’t transfer assets to anyone unless it is a genuine sale for fair value.
- Don’t borrow money without talking to your attorney first.
- Don’t write bad checks.
- Don’t put your money in your children’s bank account.
- Don’t hide assets or debts.
- Don’t gamble.
- Don’t make balance transfers.
- Don’t give of gift property to anyone.
- Don’t misrepresent facts to your attorney.
- Don’t assume you understand bankruptcy fully, ask your bankruptcy lawyer.
What small businesses and their owners need to know about the new Chapter 11 Sub-chapter 5
What is Sub-chapter 5 The Sub-chapter 5 of Chapter 11 Bankruptcy is a legal mechanism that allows companies and owners in financial duress to reorganize their finances and operations into