CHAPTER 11 OF AMERICAN LAW

The example of American insolvency law and the Chapter 11 procedure

“Bankruptcy” has lost the aspect of “stigma” in the United States and the ” filing of Chapter 11 ” has become a viable act of management.

This is a procedure under federal bankruptcy law, the Federal Bankruptcy Code . The Chapter 11 procedure is aimed at the restructuring of the company, unlike Chapter 7 which is a liquidation of the company.