ABC wants to go into bankruptcy. This will allow it to reorganize and start fresh. It has gone to a bankruptcy Judge in Naples, Florida. The Company is offering $.33 for every $1.00 owed. The creditors accepted the offer since the option of a complete chapter 6 bankruptcy is nothing. 

What do you think? Should a company be given a second chance?

Answer rating: 100% (QA)

Answer Yes it can be beneficial to give a company a second chance Bankruptcy can provide a ... View the full answer