![Bankruptcy paperwork with calculator.](https://resource-recycling.com/e-scrap/wp-content/uploads/sites/2/2016/12/Bankruptcy_TheaDesign_030916_shutter.jpg)
4L Holdings, the parent company for Clover Wireless, voluntarily filed for Chapter 11 bankruptcy in December. | TheaDesign/Shutterstock
A major North American phone repair and remarketing company has received court approval to restructure its debt, allowing it to come out of bankruptcy in the coming days.