Quote:
Originally Posted by Shaggy
Just a clarification, but the type of bankruptcy they've filed for basically means that they are trying to reorganize their financial commitments in order to pay off their debt. It doesn't necessarily mean the end of the company yet. Some companies can recover from Chapter 11, others can not. It depends on how well they can survive this particular phase, and what their financial portfolio looks like.
Close out (liquidation of the company) is a possibility at this point, but it has not happened yet. If we next see them file for Chapter 7, then you can start to write them off.
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Let's also say that Chapter 11 and Chapter 7 do not exist in European laws: EU laws on bancruptcy are different from US