Corporate bankruptcy happens for a lot of reasons other than being "broke". Chap... | Hacker News

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		tjwebbnorfolk 4 months ago \| parent \| context \| favorite \| on: Credit report shows Meta keeping $27B off its book... Corporate bankruptcy happens for a lot of reasons other than being "broke". Chapter 11 is a court-supervised way of restructuring your debt. This has a lot of utility in many situations other than not being able to pay.

gruez 4 months ago [–]

It'll go before a judge and creditors would be able to object, so if it's just a ploy to get rid of debt you can be certain it'd be contested.

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