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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]
Chapter 3: Case Administration; Chapter 5: Creditors, the Debtor and the Estate; Chapter 7: Liquidation; Chapter 9: Adjustment of Debts of a Municipality; Chapter 11: Reorganization; Chapter 12: Adjustment of Debts of a Family Farmer or Fisherman with Regular Annual Income; Chapter 13: Adjustment of Debts of an Individual with Regular Income
The U.S. Trustee may not, however, serve as the case trustee in Chapter 11. Along with the creditors committees, the U.S. Trustee acts as the primary "watchdog" to ensure compliance with the Bankruptcy Code in cases where no trustee has been appointed. Accounting staffers within the Trustee's office review all debtor filings, and monitor ...
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Chapter 11 bankruptcy protection. Add languages. Add links. ... Download QR code; Print/export Download as PDF; Printable version;
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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 ...
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