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1manband

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1manband

Re: upstater post# 29541

Thursday, 11/29/2018 6:33:00 PM

Thursday, November 29, 2018 6:33:00 PM

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Then what is taking so long?



This is a Chapter 7 liquidation. It actually isn't taking so long. For instance, Comdisco's Chapter 7 liquidation took over 15 YEARS. 15 years is more than most, but they still take much longer than comparable Chapter 11 bankruptcies.

There is little urgency in a Chapter 7 bankruptcy, because all operations have ceased and the company is not incurring additional operating costs. Therefore, it takes a long time to liquidate all assets and distribute the funds.
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