Legal contracts and bankruptcy

Should the petition for involuntary bankruptcy be granted? Explain. There's two ways that we can at this. If Beren felt that the $200000 was not going to be repaid to the bank then he had more than an adequate right to file an involuntary petition. If the partners felt that they had enough money to finish the job, recoup their losses, and pay back the bank, then Beren had no right to file the petition. In …

…the proposed plan of reorganization that is supplied to the creditors and equity holders" (Cheeseman 2004). Complying with the bankruptcy code, the debtor can agree to or reject the executory contract. This is a contract that is not performed to the max of each side. CM/ECF. Chapter 11 Bankruptcy. (2004). Retrieved August 9, 2004, from http://www.lawfirmsoftware.com/free/info/bankruptcy/chapter11.htm. Harry R. Cheeseman. Contemporary Business & E-Commerce Law. (2004). Upper Saddle River, NJ. Prentice Hall.