WorldSpace Inc fka WRSPQ

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About exit from Chapter 11 etc.....

# When do companies exit from Chapter 11?
Companies exit Chapter 11 after the court approves the company's Chapter 11 plan of reorganization and the transactions and payments proposed in the plan have been completed. Companies develop these plans in conjunction with their creditors.


# Typically, how long do most companies take after entering Chapter 11 to present a plan of reorganization?
Most companies take several months to develop and present a Chapter 11 plan of reorganization. Your lawyer will give you a more accurate estimate after speaking with you and reviewing your documents.


# Have any other companies entered Chapter 11 and successfully emerged?
Yes. Many companies in Seattle and across the country have successfully utilized Chapter 11 protection to focus on streamlining and emerging as stronger enterprises. Some examples include Macy's, Toys "R" Us, and Pathmark. Your attorney can help show you how to rebuild your business.