Bankruptcy can be a useful tool for restructuring the finances of a business, or to liquidate operations in an orderly manner. This manual discusses the choices available to the manager who is looking for a way out of a difficult financial dilemma, and who needs to understand the choices available, their ramifications, and the process flow for the bankruptcy process. The manual also addresses core bankruptcy concepts, such as the automatic stay, first day motions, voidable preferences, substantive consolidation, asset sales, the cramdown option, and much more.