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RoswellGAHokie

Joined: 01/01/2005 Posts: 14865
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My old company filed Chapter 11. It’s like a proctologist exam, except


instead of one doctor probing you, there are whole gangs of them.

In our bankruptcy, we sold ourself off in parts. So every prospective buyer got to poke around. Same with the creditors. It’s probably the most invasive type of Chapter 11 there is.

If your company intends to emerge as a stand-alone and already reached an understanding with its creditors, it won’t be nearly as invasive.

If your company plans to sell itself off or is having a dispute with its creditors, don’t be surprised if you get requests from legal and/or your bankruptcy firm looking for all sorts of production and financial data about your plant.
[Post edited by RoswellGAHokie at 06/30/2020 2:46PM]

(In response to this post by ElbertoHokie)

Posted: 06/30/2020 at 2:45PM


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Current Thread:
 
  So my company filed for Chapter 11 last night. -- ElbertoHokie 06/30/2020 2:30PM
  What product do you produce? I've been in manufacturing Mgt all my career. ** -- HokieNLot11 06/30/2020 8:36PM
  Industrial grade dried sand plus other byproducts. ** -- ElbertoHokie 07/01/2020 08:36AM
  My only experience with Ch 11 is through stock investing -- HokieAl 06/30/2020 3:26PM
  Each one is unique. ** -- ModerateHokie 06/30/2020 3:07PM
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  My old company filed Chapter 11. It’s like a proctologist exam, except -- RoswellGAHokie 06/30/2020 2:45PM
  Probably have to cut back on the stripper parties ** -- LonghornHokie 06/30/2020 2:44PM
  Frac sand? High-Crush? ** -- 48zip 06/30/2020 2:36PM
  Nah. Different company. ** -- ElbertoHokie 06/30/2020 2:42PM
  For the short to medium term (probably a year or more), not really -- Tafkam Hokie 06/30/2020 2:36PM

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