Chapter 11 bankruptcy is a form of reorganization. It is ideally suited for businesses — sole proprietor, partnership, LLCs and corporations seeking to reorganize their debts. Even individuals can file a Chapter 11 bankruptcy petition. A husband and wife can file a joint petition under Chapter 11. Similar to Chapter 13, Chapter 12 has almost the same guidelines but with a higher debt ceiling and applies to farm operations. Only family fishermen and farmers qualify for filing a Chapter 12 bankruptcy.
- Chapter 11 Overview : This article offers a summary of the Chapter 11 process and how reorganization works.
- Corporate Bankruptcy: Investor Information : Key things every investor should know about corporate bankruptcy, including why businesses choose Chapter 11, how the process works, how the bankruptcy will affect stocks and bonds, how investors will be compensated, and more.
- Chapter 12 Basics : Learn about the eligibility requirements for Chapter 12, the process involved in filing, and much more.
- Chapter 12: How It Works : This article provides a step-by-step account of the process involved, including filing a petition, paying administrative fees, the automatic stay, and meeting with creditors.
- Chapter 12: The Discharge : Learn about the effects of the discharge, debts that can’t be discharged, the Chapter 12 hardship discharge, and more.
- Chapter 12: The Repayment Plan and Confirmation Hearing : This article provides information on how repayment plans work, including how “secured” and “unsecured” claims are treated.