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Politics : The Obama - Clinton Disaster
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To: longnshort who wrote (26250)2/16/2010 9:07:10 PM
From: DuckTapeSunroof  Read Replies (1) of 103300
 
Debtor in Possession bankruptcy rules.

(He who puts MORE money into a bankrupt company to strengthen it and enable it to emerge from bankruptcy reorganization, winds up swinging a bigger stick with the bankruptcy judge and is granted a larger, even a controling, ownership stake.)

This is one of the features of American bankruptcy law (oriented toward reorganization of failed businesses into VIABLE, ongoing business concerns instead of being strictly oriented toward repayment of creditors at the expense of the business' viablility) that has traditionally made it one of the most economically productive bankruptcy codes in the entire world.
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