Chapter 11—Restructuring of Company and Repayment of Debt
Chapter 11 bankruptcy allows a business to remain in control of assets and business operations. It is available to virtually all businesses, regardless of whether they are small sole proprietorships or large, publicly held corporations.
Chapter 11 gives a business the time to restructure the business with relief from creditors. Once such restructuring occurs, companies emerge from bankruptcy and repay a substantial portion of their debt.
