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Understanding the Basics of Bankruptcy and Bankruptcy Terminology


Get a foundational understanding of the basic concepts of bankruptcy so that you can navigate the complexities with ease.

It was widely anticipated that the pandemic would lead to a boom in both corporate and business bankruptcy filings. That boom never materialized, but several factors, including the highest inflation in 40 years, supply-chain disruptions, high energy costs, and the prediction of another recession, have recently led to business bankruptcy filings beginning to swell and a belief that an increase in personal filing numbers will soon follow. This presentation will help you to become conversant with the basics of bankruptcy and bankruptcy terminology so you can advise clients as to general principles of bankruptcy.



Randy Nussbaum

Randy Nussbaum

Sacks Tierney P.A.

  • More than 40 years of experience assisting individuals and businesses with complex bankruptcy protection, transaction, and litigation matters
  • Certified Bankruptcy Specialist (Arizona Board of Legal Specialization) and Certified Business Bankruptcy Specialist (American Board of Certification)
  • Respected lecturer and author on topics regarding bankruptcy, construction, and real estate
  • Named to the Super Lawyers’ Top 50 list of Arizona attorneys, selected as one of The Best Lawyers in America, and named as Lawyer of the Year (Scottsdale) in Bankruptcy and Creditor Debtor Rights and in Bankruptcy Litigation
  • Can be contacted at [email protected] or 480-212-1682

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