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If a company files chapter 11 and restructures their debts are they then able to sell the company?
Wiki User
∙ 15y ago
Sure. And commonly done...in fact the intent of the restructure and way to pay off those that funded it, is by selling the Co. Common sceanario: Co files C-11. Creditors - generally banks and bondholders, get the stock in the Co for allowing the Co to not pay as they had agreed. Original stockholders of losing Co are out... New Co operates with it's new strong stockholders and access to capital...provves it's worthy...and some other party buys it...hopefully for enough that the old lenders, now stockholders, get enough to pay off or lessent the amount the Co failed to pay back.
Wiki User
∙ 15y ago
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If a company files chapter 11 can an employee sue?
If they did chapters 1 through 10.
What happens to home warranties when a home builder files Chapter 11 Bankruptcy?
Gone unless someone buys his business and assumes debts and obligations.
Can a credit card company garnish your wages in ny state for unsecured debt?
Yup. Though its usually done by a company that buys debts and then files suit. But yes, absolutely.
Which legal status of an individual is most associated with filing chapter 13?
One files a chapter 13 to claim bankruptcy. A chapter 13 allows a person who is severely in debt to be able to pay off their debts over a period of years without resulting in foreclosure or seizure of property.
When a company files for bankruptcy do they pay other companies that sre owed money?
Yes, they are required to pay back their debts, but sometimes its not as much as the original amount.
How does a client get their money back if the business files for bankruptcy?
It depends on the chapter they filed and the financial state of the company, most likey not, that is why the filed for bankruptcy, they have no funds.
If your company files chapter 11 do you qualify for unemployment?
Not unless you were terminated as a result. Corporations in Chapter 11 often continue operating, and employees are not always terminated, though down-sizing is often part of the proposed plan.
What happens to the employee files when one company buys another?
The new company acquires the files. When you buy a company, you also buy everything that is owned by that company, which includes files.
What happens when a business starts filing bankruptcy?
When a business files for bankruptcy it basically means it can not repay the debts it owes to creditors. Generally a trustee will sell remaining assets and pay off creditors. The exact rules of what happens depends on what type of bankrupcty that is filed. In US for example there are Chapter 7, Chapter 13 etc.
If someone files chapter 13 in 2004 can chapter 7 now be filed?
if you filed chapter 13 and it was discharged in 2005 can you file chapter 7 in 2009
If a company files chapter 11 is their anyway you can get you mony back if you are due a credit?
If your a customer and your owed money, it is not uncommon for all those types of debts to be paid in full. A Chap. 11, a reorganization, becomes much more of a business refinancing....with it being to everyones benefit to maintain the good faith of the customers. Certainly there are exceptions, and it may take a while, but generally, customers don't lose out.
What should I do if you have a on going workmans comp case and your employer files Chapter 11 Bankruptcy?
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.
