The bankruptcy, and Merrill's role in it, caused lasting damage to the county's finances that it will continue to deal with for years, he said.

That bankruptcy, which led to a snarl of litigation, caused some managers of other firms to voice doubts about accepting partnerships, if offered.

"Obviously the bankruptcy of a commercial bank would cause big problems," he said.

He warned, however, that bankruptcies by large retailers including Bradlees and Grand Union could cause a spike in 2001.

Resulting bankruptcies caused rural workers to become unemployed, and many farmers that survived lowered their workers' wages.

Basically, a bankruptcy of that calibre causes a systemic shock.

In a partnership death or bankruptcy of a partner causes dissolution unless the articles provide otherwise.

It would appear that rising bankruptcies have not yet caused lenders to grow more cautious.

A bankruptcy could cause creditors a long delay in recovering their money.

The bankruptcy of J. T. Moran is causing problems for many small companies for which it made markets.