How to File for Chapter 11 Bankruptcy: Business Reorganization
For businesses facing huge debts, avoiding closure and liquidation of assets are made possible by filing for Chapter 11 bankruptcy, commonly known as business reorganization. Under this type of bankruptcy, a business may renegotiate the terms in its contracts and leases, request creditors to discharge debts, and restructure payment plans in order to reach profitability. Declaring corporate bankruptcy will give [...]