Subject: Re: The Farce Is Strong With This One
allowed his companies to eliminate or restructure massive debts

NET
Yes. Some investors and serial entrepreneurs strategically use Chapter 11 reorganization as a calculated tool to shed debt, escape unfavorable contracts (like real estate leases), and strip away liabilities. It acts as a legal vehicle to reset balance sheets, rather than a last resort to close the business.

Ya don't want to run a country this way though.