Bankruptcy Basics

Bankruptcy Basics
As anyone who has been in business for any length of time can surely attest, businesses, regardless of the industry, can and do experience financial difficulties. The reasons businesses encounter such difficulties are myriad: general economic conditions, adverse market forces, increased competition, supply chain issues, cash flow problems attributable to an inability to collect receivables, mismanagement, lawsuits and judgments, criminal conduct, among many others, easily come to mind. Regardless of the specific cause, where the fortunes of the business cannot be improved and continuing operations becomes impractical or impossible, business owners will decide (or have no alternative but) to seek the protection afforded under the bankruptcy law.

This course will begin with a concise overview of the bankruptcy process under the federal law of the United States under the three most common scenarios: Chapter 7, Chapter 11, and Chapter 13. We will then examine in greater detail the steps involved in the typical bankruptcy case, from the filing of the petition up to the debtor’s discharge and the order of dismissal closing the case. Discussions of the types and priorities of claims and the rights and remedies available to creditors under the Bankruptcy Code will follow. Thereafter, we will examine bankruptcy from the perspective of the travel advisor in the all-too-common industry situation where a supplier’s bankruptcy impacts the agency, its clients, or both.

The course concludes with an examination of the various factors to be considered when the travel agency itself is contemplating a bankruptcy filing of its own.
Discounted member price: 99.00
190.00
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