Fuel Cell Follies: ClearEdge Files For Bankruptcy, Plug Raises $M, Bloom in Del. Fuel cells strip hydrogen atoms of their electrons and investors of their money. Eric Wesoff May 01, May 29, · Frontier Communications’ Chapter 11 bankruptcy filing is the latest chapter in one of Wall Street’s longest running investment disaster stories. Unfortunately, it’s hardly the last. The. Products Designed for Process Excellence Clear Edge design quality filter media with years of experience in filter press cloths and horizontal vacuum belts. We deliver filter products with long-lasting performance that achieves the best results for your filtration applications. Select Product Pressure Filtration Vacuum Filtration Dry Filtration and Processing Gravity Filtration Monodur.
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May 2, Bankruptcy Court in Northern California. ClearEdge Power laid off its more than Connecticut workers last week. The company's board held a conference call April 22 to discuss seeking bankruptcy protection, and agreed to make the filing, naming its chief financial officer, Gloria Fan, the executive responsible through the bankruptcy process. Generally, companies seek Chapter 11 bankruptcy to reduce their debt load and reduce operating costs in order to improve the likelihood they can operate profitability.
This is in contrast to Chapter 7 bankruptcy, where companies liquidate their operations and ultimately close. In recent months, ClearEdge Power seemed to have strong hopes for the future. Creditors can bring suit for an involuntary Chapter 11 case against a business if that business owes money.
If a court finds that creditors filed an involuntary Chapter 11 petition in bad faith, the court can award damages to the debtor. Read More: Chapter 7 Vs. Chapter 11 for Individuals. Finally, the bankruptcy law has chapters for specific types of bankruptcy protections. Chapter 12 provides special protections for family farms and family fishing businesses, including streamlining the process and exacting lower filing fees.
Chapter 9 addresses municipal bankruptcy, but the federal courts play a limited role in the process. Finally, Chapter 15 provides access to bankruptcy court proceedings to foreign creditors if an American citizen or United States-based business declares bankruptcy.
Chris McGann began writing professionally in By: Chris McGann. Businessman with empty pockets with clipping paths. Chapter 13 Chapter 13 protection allows individuals and businesses to retain their assets, but they must submit a repayment plan.