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RoswellGAHokie

Joined: 1/1/05 Posts: 10083
Likes: 8031


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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