Law360 (September 7, 2010, 3:08 PM EDT) -- Various state and federal insolvency laws, when correctly applied, can provide a valuable strategic tool for business owners to maximize the value of their businesses. Every day, savvy owners of healthy businesses utilize the established legal and business framework to their advantage by identifying, pursuing and taking advantage of below-market opportunities for asset and business purchases.
Knowledge of the available options and processes, the best known of which is the federal bankruptcy process, can save a purchaser significant time and money by allowing the purchaser to focus on so-called "hairy deals" that insolvency neophytes convince themselves are unattainable without inordinate risk,...
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