Skadden Discusses De-SPACed Companies Seeking Chapter 11 Protection
Reynolds Holding
MAY 10, 2023
The basic premise of Chapter 11 is that even an insolvent (or otherwise financially distressed business) may have significant going-concern value after its existing debt and other liabilities are restructured, and that creditors as a whole are better off preserving the business and sharing in its going-concern value than liquidating it piecemeal.
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