EmptyStomach asked:


I have noticed that some companies, when they have an offer to be purchased by another company, will voluntarily file for Chapter 11 bankruptcy in order to “facilitate the sale” of the company. Why would they do this? How does this help to “facilitate the sale”? It also seems that by filing for chapter 11, it opens the company up to open bidding. Wouldn’t this make the sale to the company with the original offer more complicated?

estwil01 asked:


I did some cabling jobs for this company, I received a letter from their attorney saying that I have to pay back like $16,000 to this company. IS THAT LEGAL? The company filed Chapter 11 bankruptcy. What can I do.