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Title 11 of the United States Code, also known as the United States Bankruptcy Code, is the source of bankruptcy law in the United States Code. [1]
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]
Furthermore, Section 109(e) of Title 11, United States Code sets forth debt limits for individuals to be eligible to file under Chapter 13: unsecured debts of less than $419,275, and secured debts of less than $1,257,850. [3] Under Chapter 13, the debtor proposes a plan to pay his or her creditors over a 3-to-5 year period. [4]
Chapter 9, Title 11, United States Code is a chapter of the United States Bankruptcy Code, available exclusively to municipalities and assisting them in the restructuring of their debt. On July 18, 2013, Detroit, Michigan became the largest city in the history of the United States to file for Chapter 9 bankruptcy protection.
Companies that have filed for Chapter 11 bankruptcy (1 C, 98 P) Pages in category "Title 11 of the United States Code" The following 8 pages are in this category, out of 8 total.
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A few volumes of the official 2012 edition of the United States Code. The United States Code (formally the Code of Laws of the United States of America) [1] is the official codification of the general and permanent federal statutes of the United States. [2] It contains 53 titles, which are organized into numbered sections. [3] [4]