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  • Wall Street Breakfast: Must-Know News [View article]
    My Boo Boo - I reversed the descriptions of bankruptcy law chapters.

    Chapter 7 is dissolution

    Chapter 11 is reorganization

    I'm surprised nobody jumped on this error. Either (1) nobody read the comment or (2) nobody understood that it was an error or (3) nobody cares.


    On Dec 04 10:38 AM jlounsbury59 wrote:

    > Bankruptcy Question - - -
    >
    > Reorganization bankruptcy (Chapter 7) usually wipes out common stock.
    > The exact situation depends on the final court decree. It is possible
    > for some sort of equity to remain, but that is very uncommon. <br/>
    >
    > Dissolution bankruptcy (Chapter 11) always discards all equity. Debt
    > is settled by distribution and liquidation of assets.
    Dec 04 13:18 pm |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Bankruptcy Question - - -

    Reorganization bankruptcy (Chapter 7) usually wipes out common stock. The exact situation depends on the final court decree. It is possible for some sort of equity to remain, but that is very uncommon.

    Dissolution bankruptcy (Chapter 11) always discards all equity. Debt is settled by distribution and liquidation of assets.
    Dec 04 10:38 am |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Before the market opens or later, I never miss your "breakfast". The quickest summary of what's happening that I know of. Thanks.
    May 24 12:59 pm |Rating: 0 0 |Link to Comment
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