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4 October 2008 2 Comments

Chapter 11, Pt. 2: Hard Lessons from the Chapter

Like others before us, we came to an ill-informed conclusion: We’ll work everything out without filing for Chapter 11. Surely all the creditors will go along with it, since it will have a much better chance of success! Who wouldn’t prefer it to being crammed down by a curmudgeonly bankruptcy judge? It will be so much more . . . civil! Only, it doesn’t work that way.

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3 October 2008 Comments Off

Chapter 11, Pt. 1: To File, or Not to File?

It’s a timely topic, but when asked to detail my experience with Chapter 11, the line that came to mind was from the end of ‘Misery,’ when James Caan is lunching with his agent: “Gee, if I didn’t know better, I’d think you were asking me to dredge up the worst horror of my life, just so we could make a few bucks.”

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