Difference between revisions of "Chapter 11"
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A reorganization [[bankruptcy]], usually involving a corporation or partnership. A Chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in Chapter 11. | A reorganization [[bankruptcy]], usually involving a corporation or partnership. A Chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in Chapter 11. | ||
[[Category:Legal Terms]] | [[Category:Legal Terms]] | ||
Revision as of 23:14, December 14, 2009
A reorganization bankruptcy, usually involving a corporation or partnership. A Chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in Chapter 11.