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Option to delay entering bankruptcy has value for corporate managers

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Explain why the option to delay entering bankruptcy has value for corporate managers.

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The expert determines the options to delay entering bankruptcy has value for corporate managers.

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Entering bankruptcy is an extremely hard decision for any corporate manager to make. Many corporate managers try and delay for as long as possible because once a Bankruptcy petition is filed the corporate manager no longer has control over the assets. Promptly after filing a U.S. Trustee is generally appointed to preside over the debtor's property until the first meeting with creditors. The Trustee, not the Corporate Manager, is now accountable for administering the debtor's estate. ...

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