Filing Chapter 11 Reorganization

A case to file chapter 11 reorganization of the United States Bankruptcy Code is frequently referred to as a "business reorganization bankruptcy". While individuals as private citizens and not a sole proprietorship alone, are not precluded from using chapter 11, it is more typically used to reorganize a business, which may be a corporation, sole proprietorship, or partnership. If you feel you need to file a ch 11 bankruptcy, be sure to contact a Chapter 11 Lawyer.

Chapter 11 is used mostly by businesses. Under chapter 11, you may continue to operate your business, but your creditors and the court must approve a plan to repay your debts. There is no trustee unless the judge decides that one is necessary; if a trustee is appointed, the trustee takes control of your business and property.

Financial Justification of Chapter 11 Bankruptcy:

• Liquidation Analysis
• Prior Credit History
• Income and Expenditures
• Assets and Liabilities
• Earning Projections

Bankruptcy Law Is A Federal Law. This Sheet Gives You Some General Information About What Happens In A Bankruptcy Case. The Information Here Is Not Complete. You May Need Legal Advice.