Quote:
Originally Posted by Guest
it's purpose is to save companies by giving them a fresh start and saving jobs and business by restructuring their debts.
It also allows banks to lend money taking a higher priority in being paid back.
All payroll & taxes are paid in full.
It take more work on the part of the business to do a chapter 11 then simply walking away paying no one anything.
It is also expensive in the legal fees.
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Many big name corps has used this law
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SO true but I don't quite think the people of Atlantic City would be so forgiving, a lot of them were out of jobs and money. Trump found it hard to borrow after all that trouble with the casinos, look it up. The trouble with some of his supporters is they are enamored with the talk of a billionaire the big question is, is he really?