Alan Wilter Sousa da Silva wrote:
Please, it's to me understand. I believe that here in Brazil we haveYes, a kind of. They are under protection of the state, so that they can stop paying their debts. Then a judge is responsible to estimate the viability of the company, and they can renegociate their payments.
something similar to US-Chapter 11. So, this C.11 would be like a
moratorium? Like what is happening to Argentina this moment for example.
Because, certainly, things don't take place here as in Germany.
On Thu, 16 Jan 2003, Wolfgang Bornath wrote:
The difficulty is to tell it to folks like mine (Germans) who don't
have that kind of "Chapter 11". Well in a sense we have it too but the
normal way is: "You can't pay your bills and you don't get investors to
do that for you? You can't find a larger company to buy you out?
You're out." The business will be closed and everything will be sold
to satisfy the creditors. You can start with a new business.
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Eric
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