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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 3: Case Administration; Chapter 5: Creditors, the Debtor and the Estate; Chapter 7: Liquidation; Chapter 9: Adjustment of Debts of a Municipality; Chapter 11: Reorganization; Chapter 12: Adjustment of Debts of a Family Farmer or Fisherman with Regular Annual Income; Chapter 13: Adjustment of Debts of an Individual with Regular Income
Chapter 11 bankruptcy and liquidation Mortgage lender January 29, 2007: American Freedom Mortgage: Chapter 11 bankruptcy and liquidation Mortgage lender February 21, 2007: First Merchant Bank: withdrawal of the concession Offshore bank [1] April 2, 2007: New Century: Chapter 11 bankruptcy and liquidation Mortgage lender [2] August 6, 2007 ...
On Oct. 29, the company reported that revenue fell 10.5% year over year to $196.6 million in the most recent quarter. Net losses narrowed to $16.1 million, compared to a $23.7 million loss last year.
When financial troubles mount and debts are piling up, filing for bankruptcy protection may be a last resort option. Personal bankruptcy filings usually involve Chapter 7 or Chapter 13, but when ...
The Portland, Oregon, ramen chain filed for Chapter 11 bankruptcy protection in February. In late April, it abruptly closed all four of its locations, more than a decade after the chain’s founding.
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