Reply to post: Yet another firm using Chapter 11

Frontier sued by FTC, six states for allegedly over-promising, under-delivering broadband

Duncan Macdonald Silver badge
Flame

Yet another firm using Chapter 11

Chapter 11 is probably the worst single bit of the entire US legal system - it allows firms to evade their debts while letting the shareholders keep the ownership of the company. If it was to be anything like a fair system then the existing shares would all be cancelled and the debtors would get new shares in the company in proportion to the debts owned to them.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

Biting the hand that feeds IT © 1998–2021