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It is (virtually exclusivel), for corporations and is a form of reorganization BK protection. Basically, the pre-filing liabilities and assets are used to resolve debts, and the court is given a plan that allows the Co to continue operating...with new finance lines, maybe new owners (the debt/bondholders take the place of the stockholders...in exchange for their claims), chaning leases and contracts (even breaking union contracts and leases), etc., to come out with an organization that can continue operating, providing jobs and be a customer to it's vendors.
Wiki User
∙ 15y ago
Wiki User
∙ 15y agoChapter 11 is the section of the Bankrutpcy Law (as opposed to C7, C13 and others) that one files under. It is used by Coporations, where they seek protection undert he law, but expect to re-organize and continue in business, albeit in a changed form. (Compared to C7, where the Co would be dissolved).
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Is 7-eleven in bankruptcy?
no , ther not in bankruptcy
When was Chapter Eleven - album - created?
Chapter Eleven - album - was created in 1995.
If you filed chapter 13 bankruptcy and it was discharged can you file chapter 7 bankruptcy now?
Yes.
How long does it take after a bankruptcy is discharged to show on your credit report?
The amount of time a bankruptcy stays on your credit report after discharge differs between Chapter 7 and Chapter 13 Bankruptcy. With Chapter 7 bankruptcy, the Chapter 7 stays on your credit report for 10 years. Chapter 13 bankruptcy, after discharge, it shows for 7 years on your credit report.
Can you protect a structured settlement in a chapter 7 bankruptcy?
Yes you can protect it under chapter 7 bankruptcy
Could you change your chapter 7 to chapter 13 after being discharged?
Sometimes Chapter 13 debtors need or want to convert their bankruptcy case from a Chapter 13 to a Chapter 7 bankruptcy. And sometimes the bankruptcy court will force you to convert from Chapter 13 to Chapter 7 - this is often called a "forced conversion." The reasons for conversions vary. For the most part, if you are instigating the conversion, you have a right to convert your case. But that doesn't always mean you'll qualify for Chapter 7 relief.
What is Bankruptcy Chapter 4?
What qualify u for bankruptcy
Can a lawyer provide you with bankruptcy information?
A lawyer is actually one of the best resources for information about bankruptcy. There are even bankruptcy lawyers who specialize in Chapter 7 and Chapter 13 bankruptcy law.
Where can I go online to find chapter 7 bankruptcy forms?
Chapter 7 Bankruptcy forms can be found on various reliable websites. A few of the sites that has Chapter 7 Bankruptcy forms are: www.uslegalforms.com/bankruptcy/, http://www.freebusinessforms.com/free-bankruptcy-forms.html and http://legal-forms-kit.com/.
Are all debts automatically discharge in chapter 7 bankruptcy for a bankruptcy that occurred in 1988?
If a debt was listed on a Bankruptcy that you filed and the Bankruptcy went through then that debt is permanently discharged with a Chapter 7.
Do you have to be working to file for bankruptcy?
There are three types of bankruptcy namely Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and Chapter 11 Business Bankruptcy. Chapter 7 bankruptcy will discharge most types of debts for the average citizen. It will stay on record for ten years, but the major benefit is the stay it provides which prevents creditors from hassling you. On the other hand Chapter 11 bankruptcy is used by businesses, not citizens, to reorganize debts while Chapter 13 bankruptcy is wage earner's bankruptcy, which allows you to repay your debt through a plan. Among these three, Chapter 13 bankruptcy is considered as the best option for people with a steady income, who happen to have fallen behind in loan payments. idk and i dont give rats a**. hahahaha
What is Chapter 1 Bankruptcy?
It is a voluntary (creditors) chapter 11
