Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Maceman
It would likely be an 11 to attempt a reorganization or a section 563 sale of assets before liquidation of the rest. Or it could be a Chapter 7 to simply liquidate.

Chapter 13 is not available to a debtor that is a non-individual. Corporations and other business entities face a choice among chapters 7, 11, or 15 (transnational insolvency.)

Normally you don't see the hiring of expensive advisors if the object is to go directly into liquidation.

On the other hand, look at retailers like Sports Authority. They entered Chapter 11, believing that there were buyers out there, found none and converted to Chapter 7 and packed it in. The retail environment is so bad that management and its advisors missed the boat, even within bankruptcy.

Sears rates as the worlds slowest motion train wreck in my conscious lifetime. I worked in retailing 35 years ago and even then it waa hard to understand what was going on with Sears.

59 posted on 10/09/2018 8:27:49 PM PDT by Wally_Kalbacken
[ Post Reply | Private Reply | To 5 | View Replies ]


To: Wally_Kalbacken; PAR35; Maceman

Oh, I don’t know. They could be using a Sears do-it-yourself personal bankruptcy kit from one of their old catalogs.


64 posted on 10/09/2018 8:59:24 PM PDT by Larry Lucido
[ Post Reply | Private Reply | To 59 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson