| ▲ | cubefox 8 hours ago | |
> 2002: Bankruptcy. Why wasn't this the end? | ||
| ▲ | handwoven 8 hours ago | parent | next [-] | |
Bankruptcy doesn't mean that assets will be destroyed. Valuable assets (including satellites, brand etc.) will be sold off to new owners, and the proceeds go to the lenders. | ||
| ▲ | piker 8 hours ago | parent | prev | next [-] | |
Two types of bankruptcy in the U.S.: liquidation and reorganization. The latter lets a company reshuffle assets and debt and schedule new payment plans to continue to exist as a going concern. It often wipes out shareholders. | ||
| ▲ | insane_dreamer 7 hours ago | parent | prev [-] | |
in the US corporate bankruptcy allows the company to restructure its debts. case in point: the three largest airlines in the US have declared bankruptcy at some point: United, Delta, American | ||