A Review of Chapter 11 Bankruptcy
A chapter 11 bankruptcy filed in terms of the US Bankruptcy Code is often referred to in one word as being a “reorganization” bankruptcy. Basically Federal Bankruptcy laws govern how a company goes out of business and go about recovering from crippling debt to become profitable again. This is generally accomplished by use of a management plan that is under the executor-ship of the bankruptcy courts.
Jay Anderson | Bankruptcy, Bankruptcy Basics