Chapter 11 - Bankruptcy Basics - United States Courts
A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy. Usually, the debtor remains “in possession,” has the powers and duties of a trustee, may continue to operate its business, …
Bankruptcy - United States Courts
Businesses may file bankruptcy under Chapter 7 to liquidate or Chapter 11 to reorganize. Chapter 12 provides debt relief to family farmers and fishermen. Bankruptcy filings that involve parties from more than one country are filed under Chapter 15. Bankruptcy Basics provides detailed information about filing. Seeking the advice of a qualified ...
Chapter 11 Bankruptcy Filing Requirements | U.S. Bankruptcy Court ...
In filing a Chapter 11, the debtor presents a plan to creditors which, if accepted by the creditors and approved by the Court, will allow the debtor to reorganize personal, financial or business affairs and again become a financially productive individual or business.
Chapter 7 - Bankruptcy Basics - United States Courts
Such debtors should consider filing a petition under chapter 11 of the Bankruptcy Code. Under chapter 11, the debtor may seek an adjustment of debts, either by reducing the debt or by extending the time for repayment, or may seek a more comprehensive reorganization.
Bankruptcy Basics - United States Courts
The United States Bankruptcy Code (title 11, United States Code) and the Federal Rules of Bankruptcy Procedure, are available online and at your local law library. The local rules of practice and procedure adopted by each bankruptcy court are available on each court website or in person at their clerk’s office.
Process - Bankruptcy Basics - United States Courts
The chapter 11 debtor usually has the exclusive right to file a plan of reorganization for the first 120 days after it files the case and must provide creditors with a disclosure statement containing information adequate to enable creditors to evaluate the plan.
Filing Without an Attorney - United States Courts
Individuals can file bankruptcy without an attorney, which is called filing pro se. However, seeking the advice of a qualified attorney is strongly recommended because bankruptcy has long-term financial and legal outcomes.
Understanding Bankruptcy | District of Arizona | United States ...
The vast majority of cases are filed under the three main chapters of the Bankruptcy Code, which are Chapter 7, Chapter 11, and Chapter 13. Federal courts have exclusive jurisdiction over bankruptcy cases.
Chapter 11 | Southern District of Alabama | United States …
2 days ago · Chapter 11 is typically used to reorganize a business and the debtor usually files a plan of reorganization to keep the business operating and pay creditors over time.
Creditor, How Do I Get The Money Owed To Me From Someone …
Chapter 11 Bankruptcy Cases – For chapter 11 cases, it is not necessary to wait to receive the Notice of Chapter 11 Bankruptcy, Meeting of Creditors, Deadlines before a creditor files a Proof of Claim. A notice that identifies a deadline for filing Proofs of Claims will be sent to all creditors.