Chapter 10 bankruptcy rules were initiated in 1898, when people were still put in pauper’s prisons and hanged for theft. They were eliminated in 1978 under the Bankruptcy Reform Act. Most of the effective and manageable aspects of Chapter 10 were rolled into Chapter 11. Chapter 10 previously covered corporations with parameters for reorganization or liquidation that were overly complex and inflexible. Court-appointed trustees would be responsible for these decisions rather than management, which opened the door for collusion and poor decision-making with exorbitant costs, which led to its disuse in favor of Chapter 11.
There are probably thousands of recently laid-off Sears employees who would like to bring back capital punishment for CEO Eddie Lampert.
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Finance: What is a 1099?0 Views
Finance, a la shmoop. What is a 1099? Well it's a tax form for the rest of us the
non fully employed, the non recipients of crappy health care and benefit plans, the [Man looks shocked at his medical bill]
non recipients of fancy corporate business cards those of us who choose to [Business card for Brett Corporate]
go it on our own as consultants, contractors, day laborers and
independents who self employ under the yoke of many masters trying to make our [A contractors diary]
own little way in the world, yeah. Corporations who hire contractors in
whatever form, must deliver to those contractors a form 1099 which outlines [Corporation giving out 1099s to contractors]
and stipulates the details of the job performed for the contractee. That 1099
is a direct conduit to the IRS holding out their arm to shake your hand and [The form 1099s are sent to the IRS]
then turning it 90 degrees to the right. [IRS's hand out expecting something]
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