[AR] Re: Masten Chapter 11
- From: Henry Spencer <hspencer@xxxxxxxxxxxxx>
- To: Arocket List <arocket@xxxxxxxxxxxxx>
- Date: Fri, 29 Jul 2022 14:48:28 -0400 (EDT)
On Fri, 29 Jul 2022, Matthew JL wrote:
Jeff Foust reporting, Masten apparently filed Chapter 11
Bankruptcy yesterday.
Shame. Always liked them. Someone should grab the XEUS/Centaur IP.
Careful here: Chapter 11 is bankruptcy *protection*, not bankruptcy --
many companies survive Chapter 11. Chapter 11 asks the courts to put the
creditors on hold while a restructuring plan is devised, to be approved
and then supervised by the courts, in hopes of getting the company back on
its feet. Sometimes the company can't put together an acceptable plan,
and sometimes it doesn't restore corporate health, but sometimes things
work and the company eventually exits Chapter 11.
Chapter 7 is real, irreversible, it's-dead assets-sold-off bankrupcty.
Henry
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