XDCX
10-12-2009, 03:58 PM
It appears that "quick rinse" Chapter 11 Bankruptcy filings are in vogue. The Chicago Cubs have filed Chapter 11 in an effort to facilitate the team's sale to the founder of TD Ameritrade.
I haven't studied the situation closely enough to comment intelligently but I read that part of the reason for the filing was to shield assets from creditors that were burned by the bankruptcy of the L.A. Times.
Here's a link to the report - click here (http://finance.yahoo.com/news/Chicago-Cubs-file-for-Ch-11-apf-1079567049.html?x=0&sec=topStories&pos=6&asset=&ccode=)
As I've mentioned in other posts, I'm concerned that Chrysler and GM have made the bankruptcy process appear too easy and attractive. :mad:
I haven't studied the situation closely enough to comment intelligently but I read that part of the reason for the filing was to shield assets from creditors that were burned by the bankruptcy of the L.A. Times.
Here's a link to the report - click here (http://finance.yahoo.com/news/Chicago-Cubs-file-for-Ch-11-apf-1079567049.html?x=0&sec=topStories&pos=6&asset=&ccode=)
As I've mentioned in other posts, I'm concerned that Chrysler and GM have made the bankruptcy process appear too easy and attractive. :mad: