Chapter 11 Bankruptcy
Chapter 11 is a bankruptcy reorganization available for some individuals and all types of businesses.1 It allows businesses to maintain possession over their assets while creating a reorganization plan and puts collections and repossessions on hold. Chapter 11 is a very flexible bankruptcy option, but it also has a low success rate.2
Fast Facts
- An attempt for businesses to become profitable3
- Filer can create a reorganization plan for creditors3
- Business operates under court supervision4
- Debtors typically prefer Chapter 7 or Chapter 134
- Creditors play a major role2
Disclaimer
The content on this page is not a substitute for legal advice. Consult a legal professional before filing for Chapter 11 bankruptcy.
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Chapter 7 Bankruptcy | Chapter 13 Bankruptcy | Lehman Brothers | Mrs. Fields | FDIC | FDIC Bank Watch List | IndyMac Bank Failure | Charles Schumer | Fannie And Freddie Bailout | Fannie Mae | Freddie Mac | Mortgages | Subprime Mortgage Crisis | Bear Stearns | First National Bank of Nevada
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