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| I have been on the wrong end of several.
Usually the guys that take bankruptcy took a lot of cash. They live well, Get paid by the trustee ( lawyer) well to line up the equipment.
Lawyer does well. They keep having meetings and sending letters until the money is gone. Often the assets just disappear and miraculously another business appears with very similar equipment when the dust settles.
I have had it happen 2 times that the bankruptcy lawyer just happened to own the business. Even the secured creditors got it handed to them.
We lucked out the last time though. They had product yet on hand to deliver. No one would haul for them. We got paid well for what we did after they declared.
Probably came out even in the end.
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Is there any recourse when a business goes bankrupt?
