Bankruptcies increased substantially in 2023 and have not slowed down as we near the end of 2024. Changes in demographic filers of bankruptcy, repeat filers, interest rates, and changing landscape, all contribute to the influx of filings. With those filings, creditors not only face the loss of credit extended, but must also fight to keep what has already been collected via the dreaded preference claim.
Thea and Christopher Ng, managing partner of Gibbs Giden, discuss the latest in bankruptcy trends, how to protect yourself, red flags, and combatting the preference claim.
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