Spongetech Delivery Systems, Inc. (fka SPNGQ)

[shajandr]

"In a Chapter 7 case, a corporation or partnership does not receive a bankruptcy discharge—instead, the entity is dissolved. Only an individual can receive a Chapter 7 discharge (see 11 U.S.C. § 727(a)(1)). Once all assets of the corporate or partnership debtor have been fully administered, the case is closed. The debts of the corporation or partnership theoretically continue to exist until applicable statutory periods of limitations expire."


http://en.wikipedia.org/wiki/Chapter_7,_Title_11,_United_States_Code