Chapter 11 Bankruptcy 
When a business is unable to service its debt or pay its creditors , the business or its creditors can file with a federal bankruptcy court for protection under either Chapter 7 or Chapter 11.This chapter of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership. A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.

Chapter 11 Bankruptcy

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