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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]
The bankruptcy filings provide some clues as to what was behind those struggles. They show that the holding company has a skeleton staff of only 19 full-time employees and currently has only $11 ...
Jones, one of the best-known and most controversial conspiracy theorists, filed for Chapter 11 bankruptcy protection in late 2022 after he was found liable for defamation in the case with the ...
Harrington v. Purdue Pharma L.P., 603 U.S. 204 (2024), is a United States Supreme Court case regarding Chapter 11 of the Bankruptcy Code. [1] The case addressed the 2022-2023 Purdue Pharma bankruptcy settlement and whether, under Chapter 11 of the Bankruptcy Code, a release extinguishing claims held by nondebtors against nondebtor third parties, without the claimants’ consent could move forward.
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.
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.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) (Pub. L. 109–8 (text), 119 Stat. 23, enacted April 20, 2005) is a legislative act that made several significant changes to the United States Bankruptcy Code.
One local company that recently succeeded in exiting Chapter 11 bankruptcy is Clover Food Lab. The chain of vegetarian restaurants came out of bankruptcy in April and has a 5-year plan to open 47 ...