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Komando Robot

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Komando Robot

Re: AugustaFriends post# 6894

Monday, 10/22/2012 10:01:45 PM

Monday, October 22, 2012 10:01:45 PM

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Companies choose to file Chapter 11 because its long-term revenues will be higher than the liquidation value of the assets. This way, creditors can get more money back if they allow the debtor business to reorganize and work out a payment plan. The business becomes a debtor in possession, maintaining control and ownership of their assets and continuing their regular operations. At this point, there is usually no trustee.

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