Klarinet Archive - Posting 000014.txt from 2006/12

From: Jeff Albrecht <jeffn8wr@-----.net>
Subj: [kl] Re: Chapter 11
Date: Fri, 01 Dec 2006 19:00:45 -0500

"-----Original Message-----
From: Gerald R. Wolfe [mailto:wolfent@-----.net]
Sent: Friday, December 01, 2006 3:24 PM
To: klarinet@-----.org
Subject: Re: [kl] Re: klarinet Digest 1 Dec 2006 10:01:01 -0000 Issue 6986

I don't claim to have any special knowledge of law or business buy out
practices, but whatever the Chapter 11 implies I've received email ads from
all three of the these companies today already...WWBW, 123, and Musician's
Friend! Doesn't look like they are done yet. For the record, I've made
many purchases from WWBW also, both by mail and in person and have had
positive experiences for the most part.
Jerry"

Jerry, Chapter 11 is a portion of the Federal Bankruptcy Statutes which
protects a company from creditors suing them while they try to reorganize their
finances and payments to those creditors. This is done to allow the company to
remain in business in the hope of being able to pay the debts it has incurred,
rather than just going out of business and liquidating all assets for pennies
on the dollar, which rarely gets the creditors any money at all, from what they
are owed. Filing for Chapter 11 protection implies that the company wishes to
remain in business, and will devise a restructuring /finance plan that will
allow it to do so without being sued out of existence by said creditors.

Jeff

-------------------------------------------------------------------
Klarinet is a service of Woodwind.Org, Inc. http://www.woodwind.org