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liquidation
When a business becomes unable to meet obligations such as employee salaries, day to day invoices, and bank debt, management may turn to Bankruptcy law to liquidate or reorganize. As a rule, Courts prefer reorganization over liquidation, provided reorganization would be viable, preserve jobs, keep assets productive, and enhance the local economy. To begin with...
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As the economy continues to sputter and consumers gasp for air, credit card issuers have been developing a strategy to cope with the chaos. Will they be offering longer terms? Lower interest rates? Perhaps rebates to long-time, loyal customers?
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