Frank 'da Count' B.  
ON AIR NOW
Frank 'da Count' B.
5:00am - 9:00am
KBND Morning News
Contact Me
 
Infinite Menus, Copyright 2006, OpenCube Inc. All Rights Reserved.

Local News

Chapter 7-Chapter 11; What's the Dif?


Thousands of companies file for Chapter 11 protection every year in the U.S. The Bend Bulletin is just one of the latest companies seeking protection from its creditors. Bend bankruptcy attorney Jon Basham says the Bend Bulletin is looking to renegotiate its $18 million in loans, it owes Bank of America. Chapter 7 is businesses shutting down, they are liquidating. They are not trying to restructure their debt. Chapter 11 wants to continue operating and restructure some debt. The Bend Bulletin has had to pay $2 million in penalties and fees to Bank of America over the last couple years. They hope to reorganize their debt over the next six months.

 

 

Share

LinkedUpRadio Envisionwise Web Services