the Stripey GoodnessSep 28, 2023

@AnnonBudgie @Teri_Kanefield in this case, the org is not being allowed to get such protection, as I understand this. Chapter 11 exists to protect companies from going into receivership in the first place and allows theny to continue to borrow new money. The debtor retains control of the org (as a trustee).

In this instance, that avenue is being explicitly denied due to the fraud funding, isn't it?

Rooroo YanSep 29, 2023
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@stripey @AnnonBudgie @Teri_Kanefield In this case it is not the lenders putting them receivership for debt, it is the government and for fraud— a crime. You can’t declare bankruptcy to escape criminal liability.
Sep 29, 2023 at 1:03amIvory for iOS