12
Aug
Aug
Dovienya asked:
Sorry, I guess this is a pretty stupid question.
Sorry, I guess this is a pretty stupid question.
But I’m not sure exactly what “bankruptcy protection” is. If a company files for Ch 11, does that mean it will close?
I’m not declaring a bankruptcy myself, I’m just wondering what happens to a company when it does.
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not a stupid question many people don’t understand ch11, a company does not necessarily close, a judge reviews all the debts and decides who gets the company money and assets since the company no longer has assets it usually closes