In Chapter 11 bankruptcy reorganizations, FAS 15 usually will not apply.

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FAS 15 (now codified under ASC 310-40) relates to the accounting for troubled debt restructurings by creditors, which is different from the proceedings and financial reorganizations under Chapter 11 bankruptcy. Chapter 11 reorganizations involve a broader scope of financial restructuring and are not limited to the specific scenarios covered by FAS 15/ASC 310-40.

In Chapter 11 Bankruptcy Reorganizations, FAS 15 Usually Will Not