Many companies prefer to think positive and believe that bankruptcy is not a possibility. However, as the recent recession has demonstrated, no companies are really immune to bankruptcy.
For this reason, many companies are advised to develop a bankruptcy contingency plan. Such a plan is to plan out worst-case scenarios and assess the legal liabilities related to those scenarios. These worst-case scenarios could result if a financially stable company loses a major supplier or customer.
If your company has questions about the possibility of bankruptcy, contact the Milwaukee bankruptcy lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.