Everyday Systems: nosdiet: message 1702 of 3212

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Just because a company files Chapter 11 doesn't mean they are going out of 

business. It just means they're going to reorganize and need breathing room 

(creditors off their back) while they restructure:

http://www.carcredit.com/chapter_11_bankruptcy.asp

If a company declares bankruptcy under Chapter 11 of the Bankruptcy Code, it 

will attempt to reorganize. In that case, management may continue to run the 

day-to-day business operations, although the bankruptcy court must approve 

all significant business decisions.

A company also can file for bankruptcy under Chapter 7 if it intends to stop 

all operations and go completely out of business.


>From: "Bonnie's Mail" <ronnieb1@...>
>Reply-To: 
>To: ">
>Subject: [nosdiet] Fw: Twilight for the Twinkie
>Date: Tue, 19 Oct 2004 19:28:31 -0400 (Eastern Standard Time)
>



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