Cruz is also lying about Trump filing ‘bankruptcy’.
I know what a Chapter 11 Bko is...and so does the lying Cruz campaign. He’s supposed to be this great lawyer...if so, he KNOWS he is lying.
It is reorganization..the creditors get paid! He could have filed Chap. 7 and liquidated them, but he didn’t.
Law Dictionary: How is Donald Trump Able to File for Bankruptcy So Many Times?
http://thelawdictionary.org/article/how-is-donald-trump-able-to-file-for-bankruptcy-so-many-times/
Written by James Hirby Fact checked by The Law Dictionary staff
People might ask How is Donald Trump able to file for bankruptcy so many times? The answer is “HE DIDN’T”!
Trump himself has never filed for bankruptcy. Out of his hundreds of corporations four have filed for Chapter 11 bankruptcy. By filing for Chapter 11 bankruptcy, the corporation is allowed to continue running while restructuring and reducing its debt. By allowing the business to continue, employees still have their jobs and the business is still making money. Corporate debts still need to be repaid but they may be reduced. The corporation must develop a repayment plan and corporate budget. Both must be approved by the creditors and by the bankruptcy court.