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These numbers don't actually support you. "Still open" means the case is ongoing, so those numbers are irrelevant. "Conversion" means going from Chapter 11 to
by gridlockd 7y ago
These numbers don't actually support you.
"Still open" means the case is ongoing, so those numbers are irrelevant.
"Conversion" means going from Chapter 11 to Chapter 7 right away.
"Dismissal" doesn't mean success or failure, it means the case is dismissed.
"Confirmed" means that the case will proceed as Chapter 11 instead of being converted or dismissed outright. That can still lead to Chapter 7 later on if the restructuring fails.
- ikeboy 7y agoDismissal and Confirmed mean the company continues to exist, and add up to a majority. Sure, any company, including those that successfully emerged from Chapter 11, may file for Chapter 7 later. But generally once it's confirmed it's considered a success.
- gridlockd 7y ago> Dismissal and Confirmed mean the company continues to exist, and add up to a majority. Of course confirmation implies that the company continues to exist in order to for the restructuring to actually take place, it doesn't imply that it will exist afterwards. Dismissal doesn't imply that the company will continue to exist for much longer either, it's simply the alternative to going straight to Chapter 7. In any event, dismissal is not a success. You are also ignoring all the cases that go straight to Chapter 7 for your hamfisted construction of a "majority". No matter how you twist and turn it, the majority of companies that file for bankruptcy do not survive, and the companies that do succeed in Chapter 11 still have to repay debt. That's my whole point.