Chapter 11 Overview
| Jurisdiction | United States |
Chapter 11 is one of the most important provisions of the Bankruptcy Code. It was designed to be a single, unified way of dealing with the reorganization of most businesses. The objective of chapter 11 is to reorganize a financially troubled debtor while maximizing the return to creditors. Another objective is to retain the employment and other economic benefits that the community derives from the business.
The key players in a chapter 11 case include the judge, who decides the relevant legal issues; the U.S. Trustee, who appoints the committee and has general oversight responsibility; secured creditors; equity...
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