Results for tag: "Chapter 11 Bankruptcy"

Chapter 11 Bankruptcy is a form of bankruptcy protection that allows a business to reorganize its debts and assets. It is typically used by businesses that are unable to pay their creditors and need to restructure their debt. The Chapter 11 Bankruptcy process involves filing a petition with the court, which is then followed by a period of negotiation between the debtor and creditors. During this period, the debtor is allowed to continue operating the business while the creditors are given the opportunity to negotiate a repayment plan. The court then approves or rejects the plan, and if approved, the debtor is allowed to continue operating the business. Companies in the Chapter 11 Bankruptcy market include General Motors, American Airlines, and Toys 'R' Us. Show Less Read more