The Surety and Bankruptcy

When a contract bond surety's principal files or is forced into bankruptcy, the surety must operate under influence of the bankruptcy court, which is a forum with its own peculiar rules and procedures. Bankruptcy is intimidating for surety professionals and with good reason -- venturing into this area without good preparation can be costly. The Surety & Bankruptcy helps demystify the process with tools to guide one from pre-bankruptcy planning through to the close.