8
May
The week in Valley bankruptcies: Biltmore 24 Investors and Phoenix Golf School
Phoenix area bankruptcy courts recorded two business filings – including one with total debt above $1 million – during the week that ended May 1, 2020. Year to date through May 1, the court recorded 27 Chapter 7 or Chapter 11 business bankruptcy filings, a 16% decrease from the same span the prior year. Chapter 7 bankruptcy protection typically provides for the liquidation of a business’ assets to satisfy creditor claims, while Chapter 11 protection enables a business to restructure its creditor…
Source: Arizona Business Journal
