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Chapter 15, Title 11, United States Code is a chapter of the United States Bankruptcy Code that deals with jurisdiction in certain bankruptcy cases. Under Chapter 15, foreign bankruptcy proceedings can be recognised by US courts and foreign representatives can participate in domestic proceedings. [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]
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.
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 ...
Bitcoin has become a worldwide craze, and the failure of the Mt. Gox Bitcoin exchange rattled the entire market for the cybercurrency. But when Mt. Gox filed for bankruptcy protection in the U.S ...
Electric-truck maker Nikola Corp. filed for Chapter 11 bankruptcy protection on Wednesday after the company failed to overcome market and macroeconomic challenges. "Like other companies in the ...
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