Information About Chapter 11 Business Bankruptcy

The term Chapter 11 business bankruptcy refers to the reorganization of debts, either through liquidation or restructuring for continued operation. Chapter 11 is available for individuals, corporations and partnerships, and offers greater flexibility than either Chapter 7 or 13. The administration of cases is quite complex compared to typical consumer filings, and requires a degree of legal acumen beyond the capability of most attorneys, whether general practioners or average consumer law specialists.