accountThe chapter of the Bankruptcy Code providing (generally) for reorganization, usually involving a corporation or...
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CHAPTER 11 BANKRUPTCY
Chapter 11 Bankruptcy is the form of bankruptcy, sometimes called "reorganization,” available to companies in financial distress under Title 11 of the U.S. Code. Through imposition of an "automatic stay" to suspend collection efforts against the debtor, Chapter 11 offers a "breathing spell" to businesses (and individuals) needing some extra time to put their financial house in order and can give them a "fresh start" to achieve financial success.
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