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Corporate Bankruptcy Explained

Corporate bankruptcy is a legal process that allows a company to reorganize or liquidate its assets in order to pay back creditors. It is a last resort for companies that are struggling to stay afloat and cannot repay their debts. The process is overseen by a bankruptcy court and can be very complex. Here, we will explain the basics of corporate bankruptcy and how it works.

When a company files for corporate bankruptcy, it is essentially admitting that it cannot repay its debts. This filing initiates a legal process that gives the company some protections from its creditors. The first step is for the court to appoint a trustee who will oversee the case. The trustee will work with the company to develop a plan for repayment or liquidation of assets.

Creditors also have a role in this process.

The Law Offices of the Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.

Our goal is to help you find a fresh start FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706


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