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HomeOff Topics News & Politics › More Companies filing for repeat bankruptcies
03-08-2012 07:37 AM  6 years agoPost 1
dilberteinstein

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texas - USA

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The number of companies making second trips through bankruptcy -- sometimes dubbed "Chapter 22" filings, or Chapter 11 times two -- has jumped in the first two months of 2012.

Under the law, judges must ensure a company's reorganization plan is feasible before allowing it to exit bankruptcy.

The 17 total public-company filings so far in 2012 compares with 15 at this point last year.

To date this year, the number of Chapter 22 bankruptcies filed as a percentage of overall bankruptcies is running at a rate that could outpace prior year Chapter 22 filings.

http://www.msnbc.msn.com/id/4664359...ks_and_economy/

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