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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]
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.
The Chapter 11 filing was the fourth-largest in US history, following Lehman Brothers Holdings Inc., Washington Mutual and WorldCom Inc. [14] A new entity with the backing of the United States Treasury was formed to acquire profitable assets, under section 363 of the Bankruptcy Code, with the new company planning to issue an initial public ...
Chapter 11 filings have climbed 49% this year as of Aug. 20, according to BankruptcyWatch. ... But a less-obvious culprit was a lease-back agreement made under a prior owner that made Red Lobster ...
Personal bankruptcy filings usually involve Chapter 7 or Chapter 13, but when businesses need help, they may seek to reorganize by filing Chapter 11 bankruptcy.
Tuesday Morning Corporation (NASDAQ: TUES) is taking the Chapter 11 route, in a retail sector beset by online competition and caution among consumers due to economic uncertainty.A slew of publicly ...
Casual dining chain TGI Fridays filed for Chapter 11 bankruptcy Nov. 2, citing the COVID-19 pandemic as one of the drivers behind its financial challenges.
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)