Software Inc. has problems as well. They recently were unable to make their payment on a $100 000 business loan to TD Bank secured by a general security agreement which secures their inventory equipment and accounts receivable. Software Inc. has also not paid their preferred shareholders a guaranteed dividend that was due last month. There are also five employees who are owed $5 000 for unpaid wages. The Federal government is claiming arrears for gst in the amount of $30,000.00 and Computer's Inc. is demanding the return of three new computers they recently delivered to Software Inc. since they were not paid for within one weeks time of delivery. Software Inc. is contemplating going bankrupt. Outline the steps that will now occur since the trustee has come in and discuss the rights of Software Inc. and all of the creditors if the bankruptcy proceeds. Also discuss whether Software Inc. has an altermative to going bankrupt.

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