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- An attempt for businesses to become profitableSEC.gov: Corporate Bankruptcy
- Filer can create a reorganization plan for creditorsSEC.gov: Corporate Bankruptcy
- Business operates under court supervisionZeromillion.com: Chapter 11 Bankruptcy Law Information
- Debtors typically prefer Chapter 7 or Chapter 13Zeromillion.com: Chapter 11 Bankruptcy Law Information
- Creditors play a major roleSlate: What Happens in Chapter 11 Bankruptcy?
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Chapter 11 is a bankruptcy reorganization available for some individuals and all types of businesses.MoranLaw: Chapter 11 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.Slate: What Happens in Chapter 11 Bankruptcy?
Disclaimer
The content on this page is not a substitute for legal advice. Consult a legal professional before filing for Chapter 11 bankruptcy.Companies That Have Filed Chapter 11
- General Motors Corporation, 2009
- Chrysler , 2009
- Lehman Brothers Holdings Inc., 2008 *Washington Mutual, 2008
- Refco Inc., 2005
- Delta Air Lines, Inc., 2005
- Worldcom Inc., 2002
- Conseco, Inc., 2002
- Global Crossing Ltd., 2002
- Pacific Gas and Electric Co., 2001
- Enron Corp., 2001
- Financial Corp. of America, 1988
- Texaco, Inc., 1987
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Chapter 11 Bankruptcy Questions
What is a prearranged bankruptcy? 1 AnswerFrom a Tri-City Herald article on Charter: In a prearranged bankruptcy, a company enters into reorganization with a plan to emerge that has the approval of majo... read more
How will credit default swaps market be affected by the Chrysler Chapter 11 filing? 1 AnswerGood question. But remember that those markets stand at the brink of re-regulation, so the danger looms above them. Your question can really be address at any p... read more
This Chrysler Chapter 11 bankruptcy is stressing me out . . .what will it mean for the supplier chain? 2 AnswersI think that this depends on the part that is being supplied. Essential parts are coming from a business whose workers now have a government job. I do not thi... read more
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