chapter 11 bankruptcy qualifications

Chapter 11 Bankruptcy: An Overview

By |May 21st, 2015|

Chapter 11 usually makes it to the news when large corporations fall into financial distress and need bankruptcy relief. Corporations that have filed Chapter 11 include General Motors, United Airlines, Lehman Brothers, and K-Mart. Most Chapter 11 cases, however, never hit the news. In 2010, for example, close to 14,000 Chapter 11 cases were filed […]

Chapter 13 v. Chapter 11 Bankruptcy for Small Business Owners

By |May 17th, 2015|

For a small business in financial distress, bankruptcy may be the only viable option. There are two restructuring options under bankruptcy law for debtors who want to try to stay in business: Chapter 11 and Chapter 13. For a “straight” or “liquidation” bankruptcy: Chapter 7.To some extent, Chapters 11 and 13 are similar. Both types […]