Did you know that people in this position may have no property to protect and, therefore, may not need to file for bankruptcy protection.

FORBES: Many Consumer Bankruptcies Do More Harm Than Good

Dewey's remaining lawyers and outside advisers are working to be ready to file for bankruptcy protection by the end of next week, though the actual filing could come well after, these people said.

WSJ: Dewey Moves Closer to Bankruptcy Filing

Mr. McCourt and his lawyers, led by Chicago litigatorFred Bartlit, are likely to argue that the alleged mistake triggered legal fees, drove up the cost of the divorce payment to Ms. McCourt, and, at the end of the day, caused the Dodgers to file for bankruptcy protection, which resulted in a forced sale of the team.

WSJ: Dodgers Owner Takes Aim at Law Firm

On April 15, 2008, Esmerian caused Fred Leighton to file for Chapter 11 bankruptcy protection.

FORBES: Former Fred Leighton Owner 'Lived a Life of Fraud and Deceit on a Massive Scale'

In addition to several House and Senate subcommittees, the Justice Department and Securities and Exchange Commission are investigating Enron's swift collapse and its decision to file for Chapter 11 bankruptcy protection December 2, 2001 -- the largest such filing in U.S. history.

CNN: Enron's ex-CEO will not testify Monday

The carmakers and politicians must now find some sort of resolution by Monday, the deadline set by the American government for GM to reorganize its debts, or file for bankruptcy protection.

FORBES: Autos

Lichtenstein became CEO of Extended Stay, but after the company could no longer supports its massive debt load he had 100 million reasons not to have the company file for bankruptcy protection.

FORBES: David Lichtenstein Blames His Lawyers For His $100 Million Bad Boy Penalty

And the problem is not confined to the UK. During the past two years, 11 steel firms in the United States had to seek protection from their creditors and file for bankruptcy.

BBC: Q&A: Why did Corus cut jobs?