The vast majority of Chapter 11 bankruptcy cases today are voluntary, meaning that debtor voluntarily initiated the bankruptcy process by a filing a petition for bankruptcy protection. Most bankruptcy experts tend to agree that this is a positive reflection of our modern understanding of the true purpose of bankruptcy, which is to provide an opportunity […]

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Chapter 11 bankruptcy is designed to offer relief and protection to financially distressed companies by providing them with the opportunity for reorganization. However, in spite of these benefits, it is a serious step that is generally undertaken only after other efforts to get out of debt, such as restructuring workouts, have proven unsuccessful. When a […]

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In virtually all Chapter 11 bankruptcy cases, a committee of unsecured creditors will be appointed. The committee, which plays a significant role in the bankruptcy process, can have a major impact on the outcome of a case. Here is a closer look at the various aspects of a typical Chapter 11 creditors’ committee, including its […]

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