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Bankruptcy filings in the public court of law are important references when taking on balance sheet risk. Each bankruptcy provides details about all aspects of the case proceedings; these details include:
- Debtor: the individual or entity that owes money to another party.
- Trustee: the individual responsible for the bankruptcy and all case proceedings
- Court: the court in which the hearing takes place, with inclusion of the office number, district and case number.
- Chapter: the chapter in the collection of types of court cases that the Bankruptcy falls into
- Updates: a sequence events for the case; it includes a description of the update, a reference to the update, and the event date.
In sum, reviewing and monitoring bankruptcies can help determine the level of financial risk that is being taken on when on-boarding and lending to businesses.
Middesk leverages real time data on bankruptcies that occur across the country. From the location of the court to the trustee that is responsible for the bankruptcy proceedings, Middesk keeps a pulse on every bankruptcy and their respective updates.
If you have additional questions, please reach out to [email protected].
Updated over 1 year ago