I think GM's Chapter 11 bankruptcy was voluntary; not involuntary. I suppose the government, acting like any other creditor of a company, can join in a suite to involuntary put a company into bankruptcy, when the company is not paying, or not able to pay, its creditors.
http://allmandlaw.com/bankruptcy/can-creditors-force-my-company-into-bankruptcy http://useconomy.about.com/od/criticalssues/a/auto_bailout.htm Regards, LelandJ On 04/05/2012 01:10 PM, Michael Madigan wrote: > The government forced GM through a structured bankruptcy. GM could have done > that without the Government. I don't know about Wall Street. > > > ----- Original Message ----- > From: "MB Software Solutions, > LLC"<[email protected]> > To: ProFox Email List<[email protected]> > Cc: > Sent: Thursday, April 5, 2012 11:49 AM > Subject: Re: [OT] People don't want to work > > On 4/4/2012 10:39 PM, Nicholas Geti wrote: >> The free market when left alone solved that problem. She got canned. >> Sometimes things take longer than we would like but the alternative is >> tyranny by the government. > > What would the economy look like today had the government not bailed out > Detroit and Wall Street? > > _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
