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Breezing Through Bankruptcy

Companies filing for Chapter 11 protection are exiting sooner than ever, but is faster always better?

June 1, 2010

The bankruptcy process is a lot faster than it used to be. When United Airlines entered Chapter 11 in 2002, for example, it languished there for three years. By comparison, in 2009 automaker Chrysler spent all of 40 days in bankruptcy. A recreational-vehicle dealer, Lazydays, sped through even faster: "We were in and out of [the] Delaware [courts] in five weeks," says CFO Randy Lay. Read more...

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