What is Chapter 11 bankruptcy?

Chapter 11 bankruptcy can be a means for either reorganization or liquidation of assets.  This is the type of bankruptcy operating businesses choose.  But did you know that individuals can (and sometimes need to) file Chapter 11 as well?

In Chapter 11, the debtor must also file a plan with the Bankruptcy Court, which comports with extensive requirements set forth in the Bankruptcy Code.  We represent large and small businesses, and individuals, in Chapter 11 bankruptcies in Colorado.  CR&L has extensive experience representing debtors in Chapter 11.  Because Chapter 11 is extremely complicated and usually reserved for the reorganization or orderly liquidation of businesses with significant revenues or individuals with significant assets, a detailed explanation of its structure is beyond the scope of this narrative.