I have a question for lawyers here - when a person is facing bankruptcy proceedings because they are unable to keep up with debt repayment (as Terry has admitted today), do the courts have the power, in addition to forcing asset sales, to force the person facing bankruptcy to consolidate their business interests by dropping/abandoning unprofitable ventures?
Current version
Posted August 29, 2011 09:01 · last edited March 18, 2021 07:33
I have a question for lawyers here - when a person is facing bankruptcy proceedings because they are unable to keep up with debt repayment (as Terry has admitted today), do the courts have the power, in addition to forcing asset sales, to force the person facing bankruptcy to consolidate their business interests by dropping/abandoning unprofitable ventures?