trinity components
Yes, if it is not considered insolvent and is profitable, it is likely the judge will allow the subsidiary to stay out of Chapter 11, especially if the judge determines that Ch11 would hinder the subsidiary.
neither.... But they probably will in mid 2009
no
Chapter 11 is not commonly available to indivduals, only Corporations.
If a company goes into a Chapter 11 owing your company money, you need to submit a claim to the bankruptcy court yesterday.
Yes, but it will likely be covered in the bankruptcy anyway. It may just be good money after bad. An attorney is the best place to get information.
File away; worker's comp cases may be the kind of debt the company must pay regardless of their chapter 11 status. Ask your attorney handling your case.
No.
File a proof of claim
C-11 is virtually always for Corporations.
Chapter 11 protection allows companies to restructure under court supervision while continuing to operate. Companies that file under chapter 11 utilize the flexibility provided by the process and the protections afforded by the Bankruptcy Code in order to implement financial and operational restructurings, often emerging with right-sized balance sheets and/or refocused operations. In contrast, companies that file under chapter 7 cease to operate and liquidate their business for the benefit of their creditors. In a "pre-packaged" restructuring, prior to filing for chapter 11, the company reaches a reorganization agreement with its creditors and then formally solicits their support before entering court. One of the primary benefits of a pre-packaged restructuring is it generally results in a shorter turnaround time for the company and significantly higher rates of success. Chapter 11 (business reorganization) is a type of reorganization bankruptcy, like Chapter 13. Chapter 11 is available to individuals, corporations, and partnerships. It has no limits on the amount of debt, again, like Chapter 13. Chapter 11 is the typical bankruptcy choice for large businesses seeking to restructure their debt and become profitable again. Chapter 11 is the most flexible of all the bankruptcy chapters, which makes it generally more expensive to the debtor. A company's stock may continue to trade even after they file for bankruptcy.
no