Chapter 11 Reorganization - Essay Example

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Chapter 11 Reorganization

2. Background Rural/Metro Corporation is considered to be one of the largest private organizations and is engaged with providing emergency ambulance and fire safety services in the US. It operates in more than 21 states in the country and is estimated to provide services to more than 1.5 million emergency calls. Established in the year 1948, the prime motive of Rural/Metro Corporation has been to provide fire protection services in return of a small subscription fee, in those areas where no emergency facilities existed. Gradually, it became one of the largest medical emergency and fire protection providers. Consequentially, it was made public in the year 1993. Currently, it is owned by Warburg Pincus, LLC, a private equity management firm. The prime economic factor that resulted in filing for Chapter 11 by the organization, owed from inappropriate capital structure, which was formed under different economic conditions resulting in huge interest payment to the creditors (Rural/Metro Corporation, 2013; Indystar.com, 2013). 3. Financial Forecast of Rural/Metro Corporation for Five (5) Years Rural/Metro Corporation is considered to be one of the largest and the most consistent performer in the stock market. ...Show more

Summary

Chapter 11 Reorganization 1. Introduction With precise norms, these bankruptcy laws attempt to help people in liquidating assets or creating a repayment plan to pay off their debts in a lawful and systematic manner. It is with this intention that Chapter 11 Reorganization, a chapter under the Bankruptcy code of the USA, allows the bankruptcy party to keep its business alive by providing them the opportunity to pay the creditors over time…
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