Reorganization

Once petition is filed, will have 120 days to draft reorganization plan

Plan will set forth: Under Plan of Reorganization
 * 1) A new capital structure
 * 2) Divide creditors' and shareholders' interest into classes
 * 3) Apply strict order of priority and provide the same treatment to each creditor in a particular class
 * Restructure finances
 * Get extensions of time to pay debt
 * Get debt reduced
 * File executory contracts
 * Commercial leases, employment contracts, collective bargaining agreements (all that have time remaining)
 * Company can choose to be bound by these contracts or reject them