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European bankruptcy law doesn't allow them to do a graceful shutdown. The company is forced to stop operations. That's the major difference between American a
by busterarm 7y ago
European bankruptcy law doesn't allow them to do a graceful shutdown. The company is forced to stop operations.
That's the major difference between American and European bankruptcies.
- skrebbel 7y agoCould you elaborate? Why not?
- groestl 7y agoThat's just not true (source: worked for a bankrupt European company once)
- busterarm 7y agoNot all European countries, just the vast majority of them. https://www.npr.org/sections/money/2017/10/04/555646290/episode-648-the-benefits-of-bankruptcy https://www.npr.org/sections/money/2017/10/04/555646290/epis...
- labster 7y agoWow, harsh. If we had that in the US, half of California would be without electricity and heating fuel for months, given the current state of PG&E.
- RonaldSchleifer 7y agoNot going to lie. I would love it if CA had to go without electricity and heating for months so the spoiled rotten insufferable brats would learn some hard lessons as the civilization around them utterly collapses into violence committed by those wonderfully enriching "minorities".