BP America: When will they file and will it be a Chapter 7 or an 11.

Discussion in 'Stocks' started by Swan Noir, Jul 11, 2010.

  1. I believe a BP America bankruptcy filing is a near certainty. The questions are:

    1) When?
    2) Will they file a 7 or an 11? I know on first glance the 7 looks ridiculous but think about how much less time and effort is involved with proclaiming right up front this entire pool of assets belongs to the claimants. I think the 7 is the right move although I'm sure most will disagree.
    3) How will the parent company's debt and equity react?