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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]
Terms of an employee contract negotiated over years can be eliminated in months through Chapter 11. Terms of the Railway Labor Act, amended in 1936 to cover airlines, prevent most labor union work actions before, during and after an airline bankruptcy. Continental Airlines declared bankruptcy, Chapter 11, a second time in December 1990.
Companies that filed for Chapter 11 bankruptcy in 2023 (4 C, 165 P) Companies that filed for Chapter 11 bankruptcy in 2024 (171 P)
A more than 100-year-old Wichita company has filed for Chapter 11 bankruptcy to restructure the business and potentially bring in new partners. Amid bankruptcy filing, Pioneer Balloon owners find ...
Continue reading ->The post Chapter 11 Bankruptcy, Explained appeared first on SmartAsset Blog. Personal bankruptcy filings usually involve Chapter 7 or Chapter 13, but when businesses need help ...
Cineworld Group, the owner of Regal Cinemas in the U.S., has confirmed that filing for Chapter 11 bankruptcy protection is among the “strategic options” it is considering as the company ...
Bankruptcy under Chapter 11, Chapter 12, or Chapter 13 is a more complex reorganization and involves allowing the debtor to keep some or all of his or her property and to use future earnings to pay off creditors. Consumers usually file chapter 7 or chapter 13. Chapter 11 filings by individuals are allowed, but are rare.
Fisker on Monday became the latest all-electric vehicle startup to file for Chapter 11 bankruptcy protection amid lackluster consumer demand, significant cash burn and operational and product issues.
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