I was sad to see one of our area's companies file for bankruptcy last month. You reported C&K Market of Brookings filed for Chapter 11 court protection. How many such filings have there been in our area during 2013?
— Owen B., Rogue River
With a few more calendar days remaining in 2013, there have been 31 Chapter 11 filings in the U.S. Bankruptcy Court for the District of Oregon, and two of those involved Southern Oregon companies.
Of those 31 filings, 11 were dismissed due to the applicant's failure to provide information to the court or for "other" reasons.
Chapters 11, 12 and 13 of the Bankruptcy Code constitute the reorganization and repayment provisions applicable to troubled businesses and individuals. Chapter 13 is used by individuals and Chapter 12 is used by farmers and privately held farm corporations with debt no greater than $1.5 million.
Chapter 11 is the provision under which most corporate reorganization takes place, allowing a company to continue business while its debt is restructured.
Aside from C&K Market's proceedings, the only Chapter 11 case from Southern Oregon involves the owners of Acme West Co., in Grants Pass. The owners, William and Bambi Day, filed for court protection on June 14.
Other companies may have filed outside of Oregon, as Harry & David Holdings did when it filed for court protection in Delaware in 2011.
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