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odiaz28

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odiaz28

Re: thetraveler post# 66

Sunday, 03/16/2008 8:38:20 AM

Sunday, March 16, 2008 8:38:20 AM

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a little info on chapter 11..

Federal bankruptcy laws govern how companies go out of business or recover from crippling debt. A bankrupt company, the "debtor," might use Chapter 11 of the Bankruptcy Code to "reorganize" its business and try to become profitable again. Management continues to run the day-to-day business operations but all significant business decisions must be approved by a bankruptcy court.

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