Bankruptcy > Chapter 11

Chapter 11

Chapter 11 Bankruptcy is a type of reorganization under the United States Bankruptcy Code that is customarily utilized by corporations and large businesses as a way to restructure their debt.

Under Chapter 11, the debtor usually continues to operate the business and maintain control of its assets, although its performance is monitored by the federal trustee and committee of individuals chosen from the comapny's largest unsecured creditors.  The debtor is also able to propose a reorganization plan that articulates the methods by which the company will be able to maintain operation and address the interests of creditors and other interested parties.

Chapter 11 Bankruptcy can be a very involved, time-intensive process and no two reorganizations are alike.  For this reason, companies, sole proprietors and individuals considering a Chapter 11 require the experience and expertise of a qualified legal firm.  Attorney John E. Bedi meets with clients at Bedi Legal PC offices in Hampton and Chesapeake to conduct a free bankruptcy and debt relief consultation to help you determine your best course of action for your business.

See our dedicated sections to learn more about Chapter 7 Bankruptcy and Chapter 13 Bankruptcy.