Guest Column: A primer on bankruptcy preference law for business owners

Payments from a customer just prior to their filing bankruptcy might have to be paid back

Photo by 8733565 © Gerrit Hein | Dreamstime.com. The land of bankruptcy can be foreign to most businesses. When a customer files bankruptcy while owing your business money, you quickly pick up on buzzwords like “pre-petition,” “proofs of claim” and “the unsecured creditors committee.” Another term that pops up — but…

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