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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]
Under the reorganization process, termed a 363 sale (for Section 363 which is located in Title 11, Chapter 3, Subchapter IV of the United States Code, a part of the Bankruptcy Code), the purchaser of the assets of a company in bankruptcy proceedings is able to obtain approval for the purchase from the court prior to the submission of a re ...
Filed for Chapter 11 bankruptcy in 2009. Reorganized as ... was the company left to settle past liability claims from Chapter 11 reorganization of American car ...
The retailer filed for Chapter 11 bankruptcy protection late Sunday, Yahoo Finance learned exclusively. ... The bankruptcy process is expected to last several weeks, with the reorganization ...
What is Chapter 11 bankruptcy? According to USCourts.gov, Chapter 11 bankruptcy "is frequently referred to as a 'reorganization' bankruptcy. Usually, the debtor remains “in possession,” has ...
It's known as a reorganization bankruptcy. Individuals may also file for bankruptcy under Chapter 11, but that is not common. Although any bankruptcy is a kind of financial death, companies may ...
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