October 2016

10
Oct

What is a Chapter 11 Bankruptcy?

Chapter 11, entitled Reorganization, ordinarily is used by individuals with high debt levels or commercial enterprises that desire to continue operating a business and repay creditors concurrently through a court-approved plan of reorganization. The chapter 11 debtor usually has the exclusive right to file a plan of reorganization for the first 120 days after it files the case and must

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