Question

Topic: Bankruptcy Law

How will a state and /or federally mandated requirement for late payments not to be considered late impact the bankruptcy laws? What about the many businesses that have been required to close-should there be some consideration given to that fact when many of these business file for bankruptcy? What about those who lose their jobs because their businesses are required to close? What does this do to their lenders and their banks?

Answer 1

Solution State of federnoully mandated requirement for lute payments not to be considered tale impouct the bank zuptcy law as they are payments to the statatong requirements of the company Comes under government dues to be paid d preferably when consideration for barnesupta/ and laws 2. Many as 3. Those businesses thout have been required close, there must be some consideration given to that fart When many of these business file for bankoupley and must have been waived off the late payments they are severely faucing the heat' alveady and lat pyjments are kind of extra burden to them. who lose their jobs because of the closure of the business must be compensatid with job Security Schemes and should be provided with Same job in some other operational businesses through intervention of government. u this left with less payment to be made to their lenders and tate payment diminishes the business. Overall repayment ability of the