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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]
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.
Companies that have filed for Chapter 7 bankruptcy by year (39 C) Pages in category "Companies that have filed for Chapter 7 bankruptcy" The following 167 pages are in this category, out of 167 total.
Title 11 is subdivided into nine chapters. It used to include more chapters, but some of them have since been repealed in their entirety. The nine chapters are: [2] Chapter 1: General Provisions; Chapter 3: Case Administration; Chapter 5: Creditors, the Debtor and the Estate; Chapter 7: Liquidation; Chapter 9: Adjustment of Debts of a Municipality
First, it covered cases filed after October 1, 1979. Second, the 1978 Act contained four titles. Title I was the amended Title 11 of the U.S. Code. Title II contained amendments to Title 28 of the U.S. Code and the Federal Rules of Evidence. Title III made the necessary changes in other federal legislation affected by the bankruptcy law changes.
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.
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]
Companies that have filed for Chapter 11 bankruptcy (1 C, 97 P) Pages in category "Title 11 of the United States Code" The following 8 pages are in this category, out of 8 total.