Keyword Analysis & Research: chapter 11 bankruptcy lsc

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Frequently Asked Questions

What will happen to LSC during bankruptcy?

The company, which has $972 million in debt, has secured commitments from its lenders for $100 million in debtor-in-possession financing and will continue to operate during the bankruptcy. LSC, a 2016 spin-off of R.R. Donnelley & Sons, prints magazines, catalogs, directories, books and some direct mail products, and manufactures office products.

What is Chapter 11 bankruptcy and how does it work?

This chapter of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership. A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.

What happened to LSC Communications?

Commercial printing company LSC Communications Inc. filed for Chapter 11 bankruptcy protection on Monday. The company was spun off from Chicago-based business communications giant RR Donnelley & Sons Co. in 2016.

What happens to a debtor in possession after Chapter 11?

A debtor will remain a debtor in possession until the debtor's plan of reorganization is confirmed, the debtor's case is dismissed or converted to chapter 7, or a chapter 11 trustee is appointed. The appointment or election of a trustee occurs only in a small number of cases.

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