Corporate Reorganization as Corporate Reinvention: Borders and Blockbuster in Chapter 11

Abstract

At its heart, Chapter 11 is supposed to be about giving struggling businesses a new beginning, predicated on the idea that 'a failing business can be reshaped into a successful operation . . . a predictable creation from a people whose majority religion embraces the idea of life from death and whose central myth is the pioneer making a fresh start on the boundless prairie.' However, major Chapter 11 cases filed in the past few months, and the subsequent discussions they provoked, raise a new question to peruse: how new should the new beginning be - how fresh the fresh start?

Keywords: Chapter 11, bankruptcy, reorganization, borders, blockbuster, netflix

JEL Classification: K20