[SilasX]

>Chapter 11 usually happens when a company has a level of debt that was issued at a certain valuation or time in their business performance. And then for whatever reason, the company has poor performance and the debt level no longer makes sense. Good example is oil and gas companies that raised debt when oil was $100, and now have to operate in a ~$50 oil world.

That's intended as a good example (in the sense of "clear, characteristic")? I thought oil extractors were expected to hedge or buy financial instruments that ensure they'll be able to sell at a good enough price given a project's costs. And even if not, it doesn't seem accurate to call that a case of "poor performance" but rather, external factors.