U.S. bankruptcy laws are stated in U.S. Code Title 11 also referred to as the Bankruptcy Code. The code consists of several chapters outlining different bankruptcy categories and procedures. Based on the debtor’s circumstances, the financially distressed debtor can file for bankruptcy under the appropriate chapter. Bankruptcies usually fall into one of two categories, either liquidation or reorganization. Furthermore, bankruptcy proceedings take place in Bankruptcy Courts.
The chapters of U.S. Code Title 11 include the following:
If you want more details regarding US Code Title 11, then go to: uscode.house.gov
Whether you are facing bankruptcy or are trying to sell, it important to get as much value as possible. If you are in that situation, then click here to download the Top 10 Destroyers of Value to maximize the value of your company as you reorganize or exit.
[box]Strategic CFO Lab Member Extra
Access your Exit Strategy Execution Plan in SCFO Lab. This tool enables you to maximize potential value before you exit.
Click here to access your Execution Plan. Not a Lab Member?
Click here to learn more about SCFO Labs[/box]