Can a company have a positive EBITDA but still go bankrupt? Why?

How to answer

Yes. EBITDA excludes investment in (and depreciation of) long-term assets, interest expense, and one-time charges. A company could have significant one-time charges (from litigation, for example) - high enough to bankrupt it - or heavy interest and CapEx burdens that EBITDA ignores. So a positive EBITDA tells you nothing about whether the company can actually survive.