What are the Advantages of Bankruptcy? - AM Audit | Audit Accounting Firm in DubaiAM Audit | Audit Accounting Firm in Dubai
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What are the Advantages of Bankruptcy?

For a business, there are numerous advantages that come with bankruptcy and it is often regarded as the last resort to ensure that the business has every opportunity to wind down legally and professionally.

Most of the companies who file for bankruptcy can enjoy the following;

  • The options and possibilities to rehabilitate the company if situations support
  • Get temporary relief from all the debts and the creditor
  • Stay clear from all criminal actions and litigations till the process is complete
  • An opportunity to clear off any and all debts and to avoid any personal liability if any
  • Avoid the liability for failing to file for Bankruptcy
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