Hidden in the deep and mysterious undercurrents of the Federal legal machinery, billion-dollar Law Firms, profit offsetting Debters-in-Posession, and Parasitic Restructuring Teams methodically extract unimaginable financial compensation from the many hopeless, helpless and beleaguered businesses unlucky enough to file for Chapter 11 ‘relief’.
Well, we’re on credit-hold with every one of our vendors, we can’t pay our staff, our taxes or operating expenses; looks like we’re heading for Chapter 11.
Right. Now all of our debt will be resolved and a Debtor-In-Posession can loan us about 20 million dollars that they don’t expect to recover; they will use that loss to tax-offset profit from their other business interests and the loan funds mostly to pay excessively padded legal and professional fees. The objective here is to delay, extend and postpone definitive resolution of the case in order to optimize the Business of Bankruptcy. Unsecured creditors lose, lawyers win.
Right. Now all of our debt will be resolved and a Debtor-In-Posession can loan us about 20 million dollars that they don’t expect to recover; they will use that loss to tax-offset profit from their other business interests and the loan funds mostly to pay excessively padded legal and professional fees. The objective here is to delay, extend and postpone definitive resolution of the case in order to optimize the Business of Bankruptcy. Unsecured creditors lose, lawyers win.
by YAWA September 1, 2025
Get the The Business of Bankruptcymug. When a hotel or resort that offers all inclusive pricing can no longer afford to run their business as a direct result of Matt drinking all of their liquor.
Matt went down to Punta Cana and got so fucked up he put those motherfuckers in Chapter 16 bankruptcy.
by MattTheFuckingHat March 28, 2009
Get the Chapter 16 Bankruptcymug. when you have so many tabs and so many windows of your internet browser open that it is affecting the performance of your computer and the browser itself.
I had 7 windows of my browser open and 347 tabs open in my main window. I couldn't even get the mouse to move on the screen so I just filed for browser bankruptcy.
by Ohio driver March 30, 2015
Get the browser bankruptcymug. The idea that when two hyper-competitive people or organizations decide to directly advertise against one another the firsts move will elicit a response from the second that will begin a series of escalations in marketing expenditures beyond what would be reasonable in an efficient free market to the point of bankruptcy for both people or organizations. The term comes from the Cold War-era term Mutually Assured Destruction.
McDonald's and Burger King were so concerned with market share with the Big Mac and Whopper that they lost sight of the button line and in an effort to one-up the other in marketing dollars and thus market share, they are both now doomed. It is mutually assured bankruptcy.
by Fat Aaron January 13, 2020
Get the mutually assured bankruptcymug. by user 1234567890 February 2, 2021
Get the Bankruptcymug.