Question: Homer Simpson starts an enterprise to create, develop, and sell video games. However, Homer has drafted an inadequate business plan and lacks sufficient financing. Homer's
Homer Simpson starts an enterprise to create, develop, and sell video games. However, Homer has drafted an inadequate business plan and lacks sufficient financing. Homer's attempt to cover these mistakes by maxing out his credit cards and failing to pay bills only leads to more debt. Presently, Homer has a total of ten (10) unsecured creditors, including his accountant, Dan Gillick, whom he owes $25,500. Can Dan Gillick file an involuntary Chapter 11 bankruptcy petition against Homer? Why or why not?
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