Chapter 11

Chapter 11 of the Bankruptcy Code governs reorganization cases for businesses and individuals not eligible for Chapter 13. A debtor under Chapter 11 will file a Chapter 11 plan to reorganize or liquidate its assets. Usually, the Chapter 11 debtor remains in possession of its assets and is called a Debtor-in-Possession.

For more detailed information, read Dealing with Corporate Distress 01: Hello Darkness, Our Dear Friend.