Bankruptcies At Internet Speed

from the in-and-out-in-three-months dept

A few years ago people liked to talk about how things had to be done at “internet speed” – which basically meant insanely fast. People even (seriously) talked about “internet years”, saying that a single year was anything from two to twelve internet years in terms of what needed to be done. It seems that in the post-bubble days, even bankruptcies are being done faster. More and more companies (especially in the tech sector) are looking to do “pre-packaged” bankruptcies, where they basically agree to all the restructuring details before declaring bankruptcy, so they can get everything together, and get out of bankruptcy much faster. Now, if only we had a dot com to help put together these quick bankruptcies as a web-based service…

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