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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]
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 ...
At the time of its Chapter 11 filing, the principal creditor of Classic World Productions was C/F International, a licensor of television programs, among other media.As of December 2004, C/F International was a secured judgement creditor of Classic World Productions and Darryl Payne for approximately one million dollars, and was the principal secured creditor at the time of the bankruptcy ...
On Friday, Illinois-based Hearthside Food Solutions filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas, court documents show.
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.
Continue reading ->The post Chapter 11 Bankruptcy, Explained appeared first on SmartAsset Blog. When financial troubles mount and debts are piling up, filing for bankruptcy protection may be a ...
In 1997, it filed for Chapter 11 bankruptcy, emerging from protection by the United States Bankruptcy Court for the Northern District of Illinois in August 1999 as a wholly owned subsidiary of GE Capital, which was by then its largest shareholder.
The Portland, Oregon, ramen chain filed for Chapter 11 bankruptcy protection in February. In late April, it abruptly closed all four of its locations, more than a decade after the chain’s founding.
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