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Unread 09-10-2005, 21:29
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Alan Anderson Alan Anderson is offline
Software Architect
FRC #0045 (TechnoKats)
Team Role: Mentor
 
Join Date: Feb 2004
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Location: Kokomo, Indiana
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Re: Delphi Bankruptcy

FIRST sponsorship is probably not going to fall under the category of "day to day activities". Losing team funding is definitely something worth worrying about, but it's not worth worrying about right away. I'm going to wait to see what the first couple of weeks of activity under Chapter 11 brings before I spend much time dwelling on it.

(By the way, Chapter 11 of the Bankruptcy Code deals with reorganization. It isn't a Chapter 7 "liquidation" bankruptcy, it's seeking protection against creditors and lawsuits while it works on a plan to satisfy them and avoid going out of business.)
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