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(1st UPDATE) Filing for Chapter 11 essentially means that a corporation is asking for more time to restore its financial health as it plans to pay back its debts
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https://www.rappler.com/business/philippine-airlines-files-bankruptcy-protection-united-states-court?fbclid=IwAR2WQLV1mdYPZY1Wjq3KjdYhsMtZpbmKNX4qDlP8Tdq5oJZLrVnzvRX9Z9M
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