Chapter 11 Bankruptcy

Reorganization Under the Bankruptcy Code

The chapter of the Bankruptcy Code providing (generally) for reorganization, usually involving a Corporation or partnership. (A chapter 11 Debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.)

a. Background
  b. How Chapter 11 Works
  c. The Chapter 11 Debtor in Possession
  d. The U.S. Trustee or Bankruptcy Administrator
  e. Creditors' Committees
  f. The Small Business Case and the Small Business Debtor
  g. The Single Asset Real Estate Debtor
  h. Appointment or Election of a Case Trustee
  i. The Role of an Examiner
  j. The Automatic Stay
  k. Who Can File a Plan
  l. Avoidable Transfers
  m. Cash Collateral, Adequate Protection, and Operating Capital
  n. Motions
  o. Adversary Proceedings
  p. Claims
  q. Equity Security Holders
  r. Conversion or Dismissal
  s. The Disclosure Statement
  t. Acceptance of the Plan of Reorganization
  u. The Discharge
  v. Postconfirmation Modification of the Plan
  w. Postconfirmation Administration
  x. Revocation of the Confirmation Order
  y. The Final Decree

Chapter 11 Bankruptcy - Background

A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy.

An individual cannot file under chapter 11 or any other chapter if, during the preceding 180 days, a prior bankruptcy petition was dismissed due to the debtor's willful failure to appear before the court or comply with orders of the court, or was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property upon which they hold liens. 11 U.S.C. §§ 109(g), 362(d)-(e). In addition, no individual may be a debtor under chapter 11 or any chapter of the Bankruptcy Code unless he or she has, within 180 days before filing, received credit counseling from an approved credit counseling agency either in an individual or group briefing. 11 U.S.C. §§ 109, 111. There are exceptions in emergency situations or where the U.S. trustee (or bankruptcy administrator) has determined that there are insufficient approved agencies to provide the required counseling. If a debt management plan is developed during required credit counseling, it must be filed with the court.