When Can a Creditor Initiate an Involuntary Bankruptcy?
Most of the time debtors are the ones who file New York bankruptcy. However, the Bankruptcy Code allows creditors to force debtors into bankruptcy under certain circumstances. Importantly, the debtor in question must be either a for-profit corporation or a person, but not an unincorporated farmer or family farmer. Creditors can initiate involuntary proceedings in …
When Can a Creditor Initiate an Involuntary Bankruptcy? Read More »
