Bankruptcy, Insolvency & Reorganization

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Bankruptcy, Insolvency, and Reorganization

In the bankruptcy process, CPAs can participate in a number of capacities, such as account/financial advisor for the debtor,
the creditor's committee, the equity committee, the examiner, the trustee, etc. In addition, the increasing sophistication of bankruptcy proceedings have resulted in an increase in demand for business valuation services in the bankruptcy-
distressed arena. Business valuations performed in this context expose CPAs to many unique issues not found in other valuation engagements. The Bankruptcy resource section provides important information for practicing in this area, including an overview of bankruptcy services, business valuation during bankruptcy, and tools and aids for performing research and gathering critical information.

Resources

	Chapters Under the Bankruptcy Code Proceedings brought in the federal courts are governed by Title 11 of the U.S. Bankruptcy Code. This is a summary of the Bankruptcy Code which is divided into eight sections: 1, 3, 5, 7, 9, 11, 12, and 13