Encounter Development Technologies Inc. (ENTI)

[saralove]

I'm reading a lot of misinformation on BK.

Chapter 7 means total discharge of all debts because co has no way to pay bills and you stipulate that on various documents. Assets to liquidate or not is irrelevant. It boils down to does company want a clean slate from all debts versus restructuring which means paying creditors reduced amounts per the trustee.

Restructuring doesn't seem possible if co has no revenues. And most companies don't file chapter 7 because it is almost the same as closing the co. And cost to file corporately is high.

Honestly no BK option makes sense to me. And Why would she buy a co and in six months file BK? Her business decision making process beginning to scare me. Hope I'm wrong.

Maybe she's just putting this BK talk out there knowing its not an option and will later say she tried just to save face and then abandon it all.