As a business, filing bankruptcy is an option when debts are unable to receive payment according to their contracts. In bankruptcy, a business will have liabilities that exceed assets owed. Any type of business may file bankruptcy if they are not able to meet financial obligations as those debts become due. When a business files a bankruptcy petition, all creditors are notified, this includes secured creditors, judgment creditors, unsecured creditors, post petition creditors, super priority claims and administrative claims creditors. The terms of the bankruptcy are determined during the court proceedings. Some businesses will remain operational. The court appointed official may help the business to restructure, downsize or otherwise reorganize in such a way as to make it possible for debts to receive repayment.