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

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.

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