Advanta Corp. Files To Reorganize Under Chapter 11 To Preserve Stakeholder Value - Congoo

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Advanta Corp. Files to Reorganize Under Chapter 11 to Preserve Stakeholder Value

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Reuters | November 09, 2009

SPRING HOUSE, Pa.--(Business Wire)-- Advanta Corp. (NASDAQ: ADVNB; ADVNA) announced today that it filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Although Advanta Corp. has close to $100 million in cash and equivalents on hand, over time it would not be ab...

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