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Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
Chapter 11 is mostly used by high net-worth individuals. [2] In the 12-month period ending June 30, 2017, Chapter 7 and Chapter 11 bankruptcy filings accounted for, respectively, 474,258 (61%) and 1,099 (0.14%) out of 772,594 nonbusiness bankruptcy filings in the USA.
It's not uncommon for business owners to worry about paying creditors, especially during times of extended economic downturn. But when a business is struggling with debt to the point that it can...
Companies that filed for Chapter 11 bankruptcy in 2023 (4 C, 165 P) Companies that filed for Chapter 11 bankruptcy in 2024 (171 P) Companies that filed for Chapter 11 bankruptcy in 2025 (9 P)
On June 9, 2023, Texas' governor signed an Act into law creating a trial level business court, as well as the first appellate level business court in the United States. The new law became effective in September 2023. [6] [7] [8] On June 28, 2024, the Texas Supreme Court approved rules of procedure for the new Business Court. [9]
PACER (acronym for Public Access to Court Electronic Records) is an electronic public access service for United States federal court documents. It allows authorized users to obtain case and docket information from the United States district courts , United States courts of appeals , and United States bankruptcy courts .
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