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Chapter 11 bankruptcy is named after the U.S.
bankruptcy code 11, chapter 11 is a form of bankruptcy that involves
a reorganization of a debtor's business affairs and assets.
Chapter
11 bankruptcy is generally filed by corporations which require time
to restructure their debts.
A
Chapter 11 reorganization is the most complex of all bankruptcy
cases and generally the most expensive. It should be considered only
after careful analysis and exploration of all other alternatives.
Chapter 11 bankruptcy gives the debtor a fresh start, subject to the
debtor's fulfillment of its obligations under its plan of
reorganization. |
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