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Podcast: On The Merits
Episode: 'Chapter 22': Why Some Companies Are Filing for Bankruptcy Twice
Description: Bankruptcy is not something a company wants to go through once, let alone twice. And yet, 2023 saw an uptick in so-called "Chapter 22s"—companies that filed for Chapter 11 a second time.Some repeat filings were due to worse than anticipated business conditions, while two others were due to a court judgment that remained in place after the first bankruptcy. Some bankruptcy attorneys say that, regardless of the reason, if a company files a second time, something had to have gone wrong with the first bankruptcy proceeding.On today's On The Merits, Bloomberg Law reporter James Na...