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USA Rugby goes bust |
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Camquin 
World Cup Winner 
Joined: 01 Jun 2007 Location: Cambridge Status: Offline Points: 11453 |
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 Topic: USA Rugby goes bustPosted: 30 Mar 2020 at 23:43 |
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Files for Chapter 11 protection. This is of course separate to Major League Rugby - though they have had to cancel after five rounds, so they will be suffering too.
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Sweeney Delenda Est
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Bill Sley
World Cup Winner
Joined: 14 Jul 2007 Status: Offline Points: 2383 |
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Posted: 01 Apr 2020 at 12:31 |
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Am I right in thinking that Chapter 11 in the USA is slightly different from Administration in the UK?
I vaguely recall Chapter 11 being less about being a 'basket case' and more a protection from creditors whilst restructuring takes place? I realise that the above does happen in the UK too - but (anecdotally) my perception is that 'most' UK administrations turn into being wound up, whilst a significant number of 'chapter 11s' recover? |
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Richard Lowther
Coaching staff
Moderator Joined: 19 May 2007 Location: England Status: Offline Points: 6605 |
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Posted: 01 Apr 2020 at 13:32 |
Yes.
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Bill Sley wrote: