Hi Norm
From what I saw last week, it in effect means 'we have a sh**load of debt, cant pay right now. We want a few months to restructure, flog some stuff, get cash to pay.'
Bankruptcy protection
Its what GM did in the GFC, and Hertz is also doing now - they will be selling thousands of cars.
Briggs are apparently trying to sell echo/shindaiwa rights in Aus - don't know what else
