Ann: Speedcast to recapitalise through chapter 11, page-19

Chapter 11 only work and allow when you have majority of the debts and business in the US market.
It keeps the debt holders at bay, not calling in the administrator to breakup the assets for liquidation. This allows the company a chance to reorganise and nego with debts holders. The best chance for share holders and the company to survive. I cannot think of anything equivalent in the Australian or UK corporate laws.