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Originally Posted by FIREWALL
So What. They get to stiff who they owe money to and, doors are open and business as usual come monday.  |
That's the part about Chapter 11 I don't get. Over here if you go bust your assets get sold and your creditors are paid whatever there is left and you don't get to keep on trading.
There are also restrictions on business ownership and directorship if you personally are declared bankrupt.
From what I can tell the law in the US protects the dodgy companies more than the companies that are their creditors? How messed up is that?