Newsgroups: comp.dcom.modems Path: utzoo!henry From: henry@utzoo.uucp (Henry Spencer) Subject: Re: Anchor modem power supply Message-ID: <1989Dec12.173714.25484@utzoo.uucp> Organization: U of Toronto Zoology References: <475d5401.f69e@phobos.UUCP> Date: Tue, 12 Dec 89 17:37:14 GMT In article <475d5401.f69e@phobos.UUCP> ellisond@phobos.UUCP (Dell Ellison) writes: >> I mentioned that Anchor was out of business... > >...talked to an Anchor representative. >She said that, No, they were not bankrupt and they were definitely doing >business. I did however, get out of her that they 'are reorganizing under >Chapter 11'. >I do understand that this isn't as bad as Chapter 13, but what is it EXACTLY?? Chapter 11 is a curious form of almost-bankruptcy. The idea is that many companies which go bankrupt could recover, given competent management and a stay of execution. Chapter 11 puts the company under the control of a court, whose job is to make such changes as seem appropriate to get the company going again -- at least well enough so that it can pay off its creditors. The creditors themselves have to be patient while this is being done. Some companies recover well enough to pay off their debts and emerge from Chapter 11 status. Some don't. -- 1755 EST, Dec 14, 1972: human | Henry Spencer at U of Toronto Zoology exploration of space terminates| uunet!attcan!utzoo!henry henry@zoo.toronto.edu