Here’s what you need to know about Chapter 11 bankruptcy
Chapter 11 bankruptcy is for businesses to get their debts reorganized and also gain enough financial stability so as to avoid any liquidation of their business assets. Though there could be scenarios in which we encounter individuals who qualify for Chapter 11 bankruptcy, this filing mostly involves the businesses. The features of Chapter 11 bankruptcy are as below: Chapter 11 bankruptcy allows the regular operation of the business that is undergoing the crisis and still works on ways towards repaying the creditors in the business This type of filing can be voluntarily initiated by the debtor. In a [...]
