WorldSpace Inc fka WRSPQ

[NY73]

MGTY..sorry for lengthy reply....forgot to comment on your Ch 7 reference...
Just because a company files for Ch 11, doesn't mean they entitled to restructure and continue. It's all about the creditors and their confidence that they will be made whole and make money in a restructured, operating company. It may only take one large creditor to put the fly in the ointment and force liquidation. If the creditors think the company can't operate profitably, they may force liquidation. I don't have the stats, but I would guess that a large number of Ch 11s don't end up with a good outcome for employees and shareholders. It's a company's last gasp at life, sometimes it works, many times it doesn't. I hope we survive to fight another day.