Re: playing with penny stocks
But GGP did not file for Chapter 7 but rather Chapter 11, which allows the company to continue its operations while undergo extensive restructuring. GGP isn't looking to liquidate its assets in order to meet creditors' demands on repayment on loans instead they are asking for better terms from creditos, which courts can be inclined to approve, that is if it goes that far. That is why government is asking GM to file Chapter 11 instead of outright declare bankruptcy, which can pose devastating affects on the economy as a whole. GGP has explicitly stated on its website that despite the filing all its malls and other business activities will continue to operate as normal.