Hey guys -
Family friend of mine operates a ~20 person manufacturing / building supplies firm that sells predominantly to construction companies and contractors. There’s ~$250K outstanding of unpaid invoices across a dozen or so customers and it’s been past 90 days with no response. I’m trying to figure out if arbitration is a better and faster process vs. small claims court or collections.
If anyone’s been in a similar position, would love your thoughts!
Oh wow, what is a creditors petition?