According to insiders, American Apparel will be filing for Chapter 11 bankruptcy protection again, making it the second time the company has filed.
It looks like Abby Lee Miller’s bankruptcy fraud trial was delayed for a third time. The 49-year-old **Dance Moms **could face up to five years behind bars in addition to $5 million in fines if convicted.
Bankruptcy is a great way to discharge debt so that you can move forward with a clean financial slate. It’s proven to be an effective tool for both consumers and businesses, but it’s important to know that bankruptcy is not the same for consumers and business.
Bankruptcy happens all around the world, but interestingly enough, it takes different forms. Below we compare and discuss the bankruptcy processes of Australia, the UK, and the US.
If you’re facing large amounts of debt, and are considering bankruptcy, you’ll want to have an understanding of the types of bankruptcy available to you.