Bankruptcy
Mar. 6, 2013
Setting the record straight: bankruptcy vs. receivership
Confusion between bankruptcy and receivership is quite common, even with creditors and attorneys, especially those who do not handle both on a regular basis. By David Wallace
Historically, the approach to handling a defaulted loan was fairly straightforward - the borrower would file bankruptcy or the lender would foreclose. In recent years, other effective alternatives, in particular receivership, have emerged.
Receivership is increasingly popular and is often mistakenly viewed as the mirror image of bankruptcy. In fact, confusion between bankruptcy and receivership is quite common, even with creditors and a...
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