WHAT IS CHAPTER 11? Chapter 11 is a form of bankruptcy in the US that involves a reorganisation of a debtor's business affairs, debts, and assets, and, for that reason, is known as “reorganisation”. While a Chapter 7 business bankruptcy filing involves liquidation, Chapter 11 allows a business to restructure its debts and remain in operation. A business going through Chapter 11 often downsizes as part of the process, but the objective is reorganisation, not liquidation.
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