Posted On: 09/08/2016 1:05:34 PM
Post# of 7769
Chapter 11 is not necessarily the end .If SCRC is able to earn some money, then the appointed bankruptcy court can pay off justified debts and allow the co. to operate normally again. If there are no earnings, then shareholders get only what is left after all assets are sold and distributed to debtholders and senior debt, such as bondholders and preferred shares.There are many cases where cos. went into chap.11 or were about to declare but yet survived. Examples are Apple, Texaco,Six Flags, Chrysler, Marvel Entertainment Sbarro and General Motors. So,there remains hope that we can get back to the way we were.
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