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.
A search around the internet demonstrates that commonly held shiboleth to be combination of a lie, a damn lie and the misuse of statistics. There are numerous law review articles on this, such as THE SUCCESS OF CHAPTER 11: A CHALLENGE TO THE CRITICS" or this paper by the office of the US Trustees OUTCOMES OF CHAPTER 11 CASES: U.S. TRUSTEE DATABASE SHEDS NEW LIGHT ON OLD QUESTIONS
Here is the problem with your damn lies. According to the U.S. Trustees, about 30% of reorganizations are affirmed (a successful plan filed and accepted); some 20% or so are converted to chapter 7; and 41% are dismissed after an out of court settlement is reached AFTER FILING.
Dimsissal after an out of court settlement would be a success. In fact a few of Trump's bankruptcies were resolved in exactly this manner.
You haven't slapped me around, and not it isn't "unpleasant." I just would hope that you would have learned your lesson to go do your own goddamned research.