Total BS. It goes to Chapter 7 when there is no realistic plan.
OK - it’s total BS.
So, tell me the names of some successful corporations that have emerged from Chapter 11 and have made all their creditors whole.
Good Luck - since only about 1% of Chapter 11 plans call for full payment to all creditors.
In fact, less than 15% of companies actually emerge from Chapter 11.
The other 85% either go to Chapter 7, or the debtors and creditors reach an out of court settlement.
In other words, in 99% of Chapter 11 cases, the creditors take some kind of haircut, which was my main point from my very first post.
My purpose in these Comments is not to slap you around, Andy.
Hopefully, this slightly unpleasant experience with a fellow Conservative will give you and other Trump supporters some idea what the MSM and the Democratic election professionals are going to do to Trump if he gets nominated.
Hopefully, you will have a better argument with them than you did with me.