譯文（字數 4071）：

企業破產

當一家上市公司發生了什么文件根據聯邦破產法保護嗎?誰來保護投資者的利益?做舊的證券有什么價值,如果,公司重組?我們希望這信息回答這些和其他常見問題關于冗長而有時不確定的破產程序。

公司會發生什么?

聯邦破產法規定如何公司歇業或恢復從沉重的債務。一個破產的公司,“債務人”,可能使用第11章的破產代碼來“重組”業務,努力成為有利可圖的再次。管理繼續運行的日常業務操作,但所有重要業務決策必須得到一個破產法庭。

在第7章,公司停止所有操作就完全失去業務。一個受托人任命,這是“清算”(銷售)公司的資產和資金用于償還債務,其中可能包括債務,債權人和投資者。

以最小的風險的投資者首先支付。例如,債權人減少風險,因為信貸,他們通常是由抵押品支持的擴展,比如抵押貸款或其他資產的公司。他們知道他們將首先獲得支付如果公司破產。

外文原文（字符數 12499）：

Corporate Bankruptcy

What happens when a public company files for protection under the federal bankruptcy laws? Who protects the interests of investors? Do the old securities have any value when, and if, the company is reorganized? We hope this information answers these and other frequently asked questions about the lengthy and sometimes uncertain bankruptcy process. 

What Happens to the Company?

Federal bankruptcy laws govern how companies go out of business or recover from crippling debt. A bankrupt company, the "debtor," might use Chapter 11 of the Bankruptcy Code to "reorganize" its business and try to become profitable again. Management continues to run the day-to-day business operations but all significant business decisions must be approved by a bankruptcy court. 

Under Chapter 7, the company stops all operations and goes completely out of business. A trustee is appointed to "liquidate" (sell) the company's assets and the money is used to pay off the debt, which may include debts to creditors and investors.