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paxgarmana

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paxgarmana

Re: None

Thursday, 07/21/2016 9:57:24 AM

Thursday, July 21, 2016 9:57:24 AM

Post# of 82575
A company can file two types of bankruptcies - Chapter 7 and Chapter 11. A 7 is a total liquidation - there is no discharge, the company simply dissolves.

This is not what is going on here.

There are two types of Chapter 11s - liquidation/wind down and reorganization. In a wind down, the company uses the process for an orderly liquidation - somewhat rare because the 7 is available. A reorganization is the most likely - we will not know the plan until the Chapter 11 plan is filed. This is not the end of the world - plenty of successful companies have filed Chapter 11s.

It's not GREAT news, but it might end up benefiting TALK.

Only time will tell.
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