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The old bankruptcy procedure simply halted operations and sold off the assets. The new procedure allows the company to continue operating under the direction of
by skookumchuck 7y ago
The old bankruptcy procedure simply halted operations and sold off the assets. The new procedure allows the company to continue operating under the direction of a judge. A judge, of course, knows nothing about running a business. Worse, it allows the people running the company to strip its assets for their personal gain.