Newsgroups: comp.dcom.modems
Path: utzoo!henry
From: henry@utzoo.uucp (Henry Spencer)
Subject: Re: Anchor modem power supply
Message-ID: <1989Dec12.173714.25484@utzoo.uucp>
Organization: U of Toronto Zoology
References: <cZRH5aq00WBL00tF1M@andrew.cmu.edu> <475d5401.f69e@phobos.UUCP>
Date: Tue, 12 Dec 89 17:37:14 GMT

In article <475d5401.f69e@phobos.UUCP> ellisond@phobos.UUCP (Dell Ellison) writes:
>>     I mentioned that Anchor was out of business...
>
>...talked to an Anchor representative.
>She said that, No, they were not bankrupt and they were definitely doing
>business.  I did however, get out of her that they 'are reorganizing under
>Chapter 11'.
>I do understand that this isn't as bad as Chapter 13, but what is it EXACTLY??

Chapter 11 is a curious form of almost-bankruptcy.  The idea is that many
companies which go bankrupt could recover, given competent management and
a stay of execution.  Chapter 11 puts the company under the control of a
court, whose job is to make such changes as seem appropriate to get the
company going again -- at least well enough so that it can pay off its
creditors.  The creditors themselves have to be patient while this is
being done.  Some companies recover well enough to pay off their debts
and emerge from Chapter 11 status.  Some don't.
-- 
1755 EST, Dec 14, 1972:  human |     Henry Spencer at U of Toronto Zoology
exploration of space terminates| uunet!attcan!utzoo!henry henry@zoo.toronto.edu
