Chapter 11 Bankruptcy
Learn how even the wealthy and big businesses can - and often do - get bankruptcy protection and debt relief by filing Chapter 11 bankruptcy.
Chapter 11 bankruptcy is the type of bankruptcy used by corporations and wealthy individuals when they need a fresh start. Some famous examples include Skymall and General Motors, which both used Chapter 11 to reorganize their debts or liquidate their assets.
This page is your hub for learning about how bankruptcy isn’t just for regular people that need a fresh start, but also for large corporations and wealthy individuals.
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What Is Chapter 11 Bankruptcy?
Written by Attorney Jenni Klock Morel.
Updated August 21, 2024
Chapter 11 bankruptcy is a legal process that allows a business to reorganize its debts and continue operating while working out a plan to pay back creditors over time. Most individuals who file bankruptcy would not use Chapter 11. Instead, they'd typically file Chapter 7 or 13.
Read More →Chapter 7 vs. Chapter 11 Bankruptcy
Written by Jonathan Petts.
Updated July 20, 2023
Chapter 11 bankruptcy can be quite similar to Chapter 7 bankruptcy. But it's also really different. Learn how each type of bankruptcy can provide you with debt relief.
Read More →Should I File Bankruptcy for My Business?
Written by Curtis Lee, JD.
Updated June 1, 2022
If you're struggling to make ends meet for your business you can dissolve your business under state law or file bankruptcy. The type of bankruptcy you'll file depends largely on the business's structure. You can file personal bankruptcy — Chapter 7 or Chapter 13 —bankruptcy if you're a sole proprietor. If your business is an LLC, corporation, or other legal entity, you may want to file Chapter 11 instead. It's often good to get legal help when filing a business bankruptcy.
Read More →Reorganizing Your Debt? Chapter 11 or Chapter 13 Bankruptcy Can Help!
Written by Attorney Jenni Klock Morel.
Updated July 25, 2023
Chapter 11 cases are mostly filed by businesses or people with significant assets and debts. Chapter 7 and Chapter 13 are the most common chapters filed by individuals. Read on to learn more about the differences between Chapter 11 and Chapter 13 bankruptcies.
Read More →Corporate Bankruptcy Explained
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated July 22, 2020
When a corporation gets into financial trouble, the company may be able to file for bankruptcy protection. In some ways, corporate bankruptcy is like consumer bankruptcy. But, there are also important differences. In this article, you’ll learn how the two types of business bankruptcy differ, how each works, and how corporate bankruptcy is different from personal bankruptcy.
Read More →What is A Chapter 11 Reorganization Plan?
Written by Attorney Karra Kingston.
Updated July 22, 2020
A Chapter 11 bankruptcy reorganization plan lays out how the filer will pay their debt obligations moving forward. It gives the filer the chance to restructure and renegotiate the terms of paying back creditors.
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