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Bernstein Burkley
  • Practice Areas
    • Overview
    • Bankruptcy & Restructuring
    • Business and Corporate Transactions
    • Creditors’ Rights
    • Litigation
    • Oil & Gas and Energy
    • Real Estate
    • Real Estate & Commercial Finance
  • Our Attorneys
  • About Us
    • Our Approach
    • History
    • Law Lists
    • Professional Memberships
    • Careers
  • Resources
    • Bernstein’s Dictionary of Bankruptcy Terminology
    • Links
    • Five Minute Legal Master videos
    • Blog
    • Legal Publications
  • News
    • Cases Archive
    • Firm News
    • In the News
    • Industry News
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Q&A
Q&A

What is Chapter 22 bankruptcy? Do any prominent examples come to mind?

Posted on October 29, 2012 by Bob Bernstein

Creditors’ Rights 7

A: US Airways is an example of a company in serial bankruptcy. Because companies often emerge from Chapter 11 undercapitalized, many reorganized companies will slip back into bankruptcy. Once a company slips back in, it is frequently liquidated or sold. Because companies know a Chapter 22 often means liquidation, many may liquidate outside of bankruptcy rather than file again.

US Airways is an example of a very large company in bankruptcy protection that is very visible in the news media. Because it is relatively easy for a small company to file for bankruptcy protection without their creditors getting early notice, it is always good to contact a creditors’ rights law firm for advice when you are having payment problems with your key accounts.

 

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