Bankruptcy Costs - What are the direct and indirect costs of bankruptcy?

Bankruptcy Costs - What are the direct and indirect costs of bankruptcy? Briefly explain each. Additionally, as mentioned in the text, some firms have filed for bankruptcy because of actual or likely litigation-related losses. Is this proper use of the bankruptcy process?

The direct costs of bankruptcy include paying off through all of the personal assets. The indirectcosts of bankruptcy include loss of goodwill. Some firms have filed for bankruptcy because of...