Volunteering for Involuntaries: Vey!

Volunteering for Involuntaries: Vey! | Wayne Greenwald

Involuntary bankruptcy petitions may be the nuclear weapon in the commercial debtor-creditor collections arsenal. Like its military counterpart, it devastates. An alleged debtor may be crippled economically, where it was viable before the involuntary petition was filed. To limit abuse of involuntary petitions, the Bankruptcy Code imposes onerous penalties on petitioning creditors with failing petitions. Those penalties include: (A) costs; or (B) a reasonable attorney's fee; or against any petitioner that filed the petition in bad faith,for -  

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