Generally, if a publicly traded company files for bankruptcy, the Securities and Exchange Commission (SEC) will become more involved in the process.
As a general matter, few public companies file Chapter 7 but may file for a reorganization. However, the SEC imposes additional reporting requirements as opposed to a privately held company.
If the public company does file for bankruptcy and files a proposed plan, shareholders are generally the last creditors to be paid.
About the Finkel Law Group
Finkel Law Group, with offices in San Francisco and Oakland, has more than 40 years of experience assisting our clients navigate federal bankruptcy laws and state insolvency statutes. Our attorneys have the experience and expertise needed to help you and your management team successfully complete the liquidation or reorganization of your corporation, partnership or limited liability company.
When you need intelligent, insightful, conscientious and cost-effective legal counsel to assist you with the bankruptcy and reorganization issues confronting your company please contact us at (415) 252-9600, (510) 344-6601, or info@finkellawgroup.com to speak with one of our attorneys about your matter for a cost-free consultation.