Ad
related to: bankruptcy reorganization chapter
Search results
Results from the WOW.Com Content Network
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]
An individual who is badly in debt can typically file for bankruptcy either under Chapter 7 (liquidation, or straight bankruptcy) or Chapter 13 (reorganization).In some cases, options may also include Chapter 12 (family farmer reorganization) and Chapter 11 (reorganization of a company, or an individual debtor whose debts exceed the limits for a Chapter 13 filing). [2]
What Chapter 13 bankruptcy is and how it works. Chapter 13 bankruptcy, also called a reorganization, is a legal process that allows you to restructure your debt to be more manageable based on your ...
Chapter 13 bankruptcy, also known as reorganization bankruptcy, allows certain debts to be discharged without giving up important assets. However, one of the major caveats of this legal process is ...
As part of a reorganization plan agreed to with the U.S., Canadian and Ontario governments, and the company's unions, General Motors filed for Chapter 11 bankruptcy protection in a federal Manhattan court in New York on June 1, 2009, at approximately 8:00 am, planning to re-emerge as a less debt-burdened organization. [13]
Chapter 13 bankruptcy, or reorganization bankruptcy, allows you to keep your property while reorganizing debts into a manageable repayment plan. In this case, your HELOC becomes part of that plan ...
An example is the airline industry; in 2006, over half the industry's seating capacity was on airlines that were in Chapter 11. [10] In a pre-packaged case, the plan proponents will have secured sufficient support from creditors to confirm their plan of reorganization prior to filing for Chapter 11 reorganization.
The Archdiocese of Baltimore on Friday filed for Chapter 11 bankruptcy reorganization days before a new state law goes into effect removing the statute of limitations on child sex abuse claims and ...
Ad
related to: bankruptcy reorganization chapter