Emerging from a Chapter 11 bankruptcy to a position of financial strength may seem as far removed from reality as the Greek mythical phoenix–the bird that rose from the ashes of destruction. Some companies are essentially liquidated during the bankruptcy process; some are restructured and survive as smaller fractions of their former selves, and a few, occasionally, emerge in better financial shape. What Eddie Rodriquez did for El Paso Electric is an example of the successful resolution of a potentially financially destructive process–corporate bankruptcy. Read it here.
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