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In the second step, the newly created spin-off declares a chapter 11 bankruptcy, usually in North Carolina, where bankruptcy courts are perceived to be more open to this scheme. The Texas two-step allows solvent companies to shield their assets from litigants using protections that are normally reserved for bankrupt companies. [1]
Companies that filed for Chapter 11 bankruptcy in 2023 (4 C, 165 P) Companies that filed for Chapter 11 bankruptcy in 2024 (170 P) Companies that filed for Chapter 11 bankruptcy in 2025 (16 P)
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]
Rubio’s Restaurants filed for Chapter 11 bankruptcy protection in June. The fast-casual chain, known for its fish tacos, had 86 locations at the time across California, Nevada and Arizona.
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 ...
In Chapters 7, 12, and 13, creditors must file a "proof of claim" to be paid. In a Chapter 11 case, a creditor is not required to file a proof of claim (that is, a proof of claim is "deemed filed") if the creditor's claim is listed on the debtor's bankruptcy schedules, unless the claim is scheduled as "disputed, contingent, or unliquidated". [34]
It's not uncommon for business owners to worry about paying creditors, especially during times of extended economic downturn. But when a business is struggling with debt to the point that it can...
Companies that have filed for Chapter 11 bankruptcy by year (67 C) Pages in category "Companies that have filed for Chapter 11 bankruptcy" The following 97 pages are in this category, out of 97 total.