Tytan Holdings Inc (TYTN)

[Atlanta1]

ROFLMFAO

The purpose of filing the CH7 is: get rid of all the debts and liabilities while liquidating all the nonexempt assets in order to re-start the company from a fresh point!

TOTALLY FALSE


HERE IS THE TRUTH: Chapter 7 Liquidation Under the Bankruptcy Code

The chapter of the Bankruptcy Code providing for "liquidation," ( i.e., the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors.)

Liquidation is NOT a "fresh start". It is the final stage of a company shutdown. It does NOT get rid of all debts and liabilities. It gets rid of all assets, and distributes the proceeds to creditors.

Good grief...