How do bankruptcy laws help debtors?

Posted: July 15th, 2022

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Twomey, D. P., Jennings, M. M., & Greene, S. M. (2021). Anderson’s Business Law & The Legal Environment – Comprehensive Edition (24th Edition). Cengage Learning US.
Part 1:
How do bankruptcy laws help debtors? What are the bankruptcy laws discussed in the text? Are the bankruptcy laws too lenient and allow debtors to leave their creditors in a lurch? Discuss and defend your position. In other words discuss ALL of the relevant facts that pertain to the question and take a position, then give support to show why your position is the right one.
Part 2:
If you were a creditor and a significant debt were owed to you, at what point would you consider filing a Petition in Involuntary Bankruptcy against your debtor? What exactly is a Petition in Involuntary Bankruptcy? Do you support this option? Describe and properly cite your options and discuss.

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