Some days, however, are not so good. For example, when we're called in to look at the books of a dying company to review the dismal financial situation and figure out what went wrong. As a loyal fan, it was upsetting to pore over the schedules, charts, and numbers which effectively closed the book on my favourite wrestling organization. As an accountant, though, it was pretty interesting. Simply put, ECW could not afford to pay its debts.
Bankruptcy always seems to have a negative connotation to it.
However, the situation is not necessarily as bad as it sounds. A Chapter 11 Bankruptcy is a formal attempt at reorganization. Paul Heyman is still the owner and he still has operating control. His mandate, however, has changed. His objective now is to develop a plan to satisfy creditors, either by paying them back or coming to some other acceptable resolution.