This means that a company is on the verge of bankruptcy and if something in the company doesn't change, that there is a definite chance of going bankrupt.
You may not be able to withdraw a Chapter 11 filing. You should talk to your lawyer to determine the best course of action.
The US Courts is the best place to source information regarding chapter 11 bankruptcy filing. Here you will find valuable information including how the chapter 11 bankruptcy works. Other sites that provide information include; Investopedia and Wikipedia.
Very possibly.
Yes, for a while at least.
Chapter 11 is virtually always on for CORPORATIONS and is a "reorganization" rather than a liquidation. Chapter 7 dissolves the corporation. C-7 can happen, and frequently is, shortly after C-11 (actually converting the C-11), especially if no viable reorganization plan can be found.
Yes, they are filing Chapter 11 bankruptcy protection with a restructuring agreement that allows them to raise $77.5 million in new cash.
A person's income does not count after filing chapter 7 bankruptcy. All that counts is what you had before filing bankruptcy.
Yes. It is the most common reason for filing a chapter 13.
The Borders book store filed for Chapter 11 bankruptcy in February of 2011. Borders decided to close 30% of it's Brick-and-Mortar stores after filing for bankruptcy.
In a Chapter 7 bankruptcy, a person filing for relief is called a
First and foremost, the applicant has to decide with version of bankruptcy he/she/they are filing for. There are six types: Chaper 7, Chapter 9, Chapter 11, Chapter 12, Chapter 13, and Chapter 15. The most common is Chapter 11 and the process begins with the filing of bankruptcy paperwork to the appropriate court. This is done with an attorney or a qualified paralegal. From there, the applicant appears in court to answer questions from a bankruptcy judge and with all of the evidence gathered, waits for a decision. This can happen in a matter of days, weeks, or months depending on the circumstances.
Bankruptcy Chapter 11 Filing Reorganization