What Is Chapter 11 Bankruptcy?

Posted on December 20, 2009 by Jill Michaux, Topeka Consumer Bankruptcy Attorney

Chapter 11 Bankruptcy: A reorganization proceeding in which the debtor may continue in business or in possession of its property as a fiduciary. A confirmed Chapter 11 plan provides for the manner in which the claims of creditors will be paid in whole or in part by the debtor.

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