To illustrate differences in alternative types of bankruptcy under the Bankruptcy Act of 1978 (amended in 1984).
To illustrate rights of creditors and entrepreneurs in different cases of bankruptcy.
To provide the entrepreneur with an understanding of the typical warning signs of bankruptcy.
To illustrate how some entrepreneurs can turn bankruptcy into a successful business.
To examine the options in providing for an exit strategy focusing primarily on the succession of a business to family or nonfamily members, and sale of the business to employees (ESOP) or to an external source.
