|
|
|
|
||||
|
Welcome to the GoFuckYourself.com - Adult Webmaster Forum forums. You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! If you have any problems with the registration process or your account login, please contact us. |
 |
|
|||||||
| Discuss what's fucking going on, and which programs are best and worst. One-time "program" announcements from "established" webmasters are allowed. |
|
|
Thread Tools |
06-15-2004, 03:22 PM
|
#1 |
|
Confirmed User
Join Date: Jan 2002
Location: ICQ 380-366
Posts: 6,935
|
Question about chapter 11 ....
I have no idea how thsi stuff works, but tryign to clear up a question someone made in a discussion im having :
situation is this: Organisation is being sued for orginal claim of $400 Million so the organisation filed for chapter 11. now someone is saying someone else said (you know how the chinese whipser works) that unless the organisation comes up with $15 million the whole deal is off and claimants can go for the original $400 million does this sound correct?
__________________
#RememberYourRoots #AaronMForGFYHOF
 |
|
|
|
06-15-2004, 03:23 PM
|
#2 |
|
WW4L
Join Date: Oct 2002
Location: over the river and through the woods
Posts: 10,581
|
chapter 11 is bankruptcy I am pretty sure
|
|
|
|
|
06-15-2004, 03:27 PM
|
#3 | |
|
Confirmed User
Join Date: Jan 2002
Location: ICQ 380-366
Posts: 6,935
|
Quote:
liek isn't that the whole point of bankruptcy? thats how it works out here in oz
__________________
#RememberYourRoots #AaronMForGFYHOF
|
|
|
|
|
|
06-15-2004, 03:29 PM
|
#4 | |
|
Confirmed User
Join Date: Apr 2003
Location: Ontario Canada
Posts: 7,355
|
Quote:
funny u need money to be broke.. |
|
|
|
|
|
06-15-2004, 03:33 PM
|
#5 |
|
aspiring banker
Join Date: Mar 2002
Location: toronto
Posts: 10,870
|
chapter 11 is reorganization, the company plans to emerge from bankruptcy
chapter 7 is full blown banruptcy |
|
|
|
|
06-15-2004, 03:35 PM
|
#6 |
|
Too lazy to set a custom title
Join Date: Mar 2002
Location: Australia
Posts: 17,393
|
Even if you declare bankruptcy in AU you are still obligated to (partially) cover your debts once you're back on your feet... it doesn't just automatically release you from all financial responsibility. I came pretty close to it a few years ago with a failing business I should have closed long before I did, but decided against bankruptcy. I'm glad I did since my credit record remains untarnished. I don't think we'd be building a home if it had a bankruptcy listed.
 |
|
|
|
|
06-15-2004, 03:43 PM
|
#7 | |
|
Confirmed User
Join Date: Jan 2002
Location: ICQ 380-366
Posts: 6,935
|
Quote:
__________________
#RememberYourRoots #AaronMForGFYHOF
|
|
|
|
|
|
06-15-2004, 05:26 PM
|
#8 | |
|
Confirmed User
Industry Role:
Join Date: Jan 2003
Location: Kingman AZ
Posts: 2,849
|
Quote:
When I owned my machine shop business (I was sole owner) had to file chapter 11. I beleive a big business such as exe: AT&T or Amtrack, etc etc. Any business that trades on whatever stock market, they have to file for chapter 7. Or a Corporation that has a board of executives that have a percentage in the Corporation/business. Also if you owe the IRS or State board of equalization (California State taxes) you would have to work out an offer & compromise. |
|
|
|
|
