Above the Law blog had an article written by Jordan Rothman titled "People Love to Threaten Bankruptcy During Litigation", the article can be found at https://abovethelaw.com/2023/03/people-love-to-threaten-bankruptcy-during-litigation/.
Jordan is correct in that many defendants in
In fact, when the threat to file is made by an experienced bankruptcy attorney, it has an even greater impact and we have settled many cases with that approach. In fact, we will often prepare a draft of a bankruptcy petition and send it to an adversary for settlement purposes only, showing what the creditor would receive in a bankruptcy filing (we call this a "pro forma bankruptcy petition").
Alternatively, we are often retained by litigators or their clients to determine what their client would receive if their adversary filed for bankruptcy-we call this a "back of the envelope calculation".
Parties wishing to discuss these issues are encouraged to contact Jim Shenwick, Esq 917 363 3391 firstname.lastname@example.org
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