Myth Busters: Involuntary Bankruptcy Cases Special Edition:
So exactly how many petitioning creditors are needed to file an involuntary petition? How does an alleged debtor know if he or she has twelve or more qualified creditors? And can an involuntary case be dismissed based on a petitioning creditor's bad faith, even if the other elements under section 303 are satisfied? These are the kind of questions, myths, and urban legends that will be put to the test during April CLE lunch. Find out whether these "myths" about involuntary bankruptcy cases are true and which ones are not.