A case filed under Chapter 11 bankruptcy protection is commonly referred to as a ‘reorganization or restructuring bankruptcy’. Chapter 11 is a part of the US Bankruptcy Code under which an insolvent company is allowed to reorganize and is not liquidated. It is not shut down and sold off.
Check Also
National Philosophy Day: Date, History, Wishes, Messages, Quotes
National Philosophy Day: This day encourages critical thinking, dialogue, and intellectual curiosity, addressing global challenges …