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#12 |
Navy Seal
![]() Join Date: Nov 2005
Location: Houston, TX
Posts: 9,404
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Not quite. They're under Chapter 11 bankruptcy which means they'll still operate while they restructure. That's the difference between Chapter 7 and Chapter 11 bankruptcy - chapter 7 is gone, liquidate everything, its no longer a going concern. 11 means "hey we screwed up and we can't pay everyone, but let us figure some things out and we'll at least get some money to some of you all and then we'll restart good as new later."
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