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Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities.
Chapters. Title 11 is subdivided into nine chapters. It used to include more chapters, but some of them have since been repealed in their entirety. The nine chapters are: [2] Chapter 1: General Provisions. Chapter 3: Case Administration. Chapter 5: Creditors, the Debtor and the Estate. Chapter 7: Liquidation.
Bankruptcy under Chapter 11, Chapter 12, or Chapter 13 is a more complex reorganization and involves allowing the debtor to keep some or all of his or her property and to use future earnings to pay off creditors. Consumers usually file chapter 7 or chapter 13. Chapter 11 filings by individuals are allowed, but are rare.
Standard General L.P. Standard General L.P. is an American hedge fund headquartered in New York City. It was founded in 2007 by Soohyung "Soo" Kim and Nicholas Singer with seed capital from Reservoir Capital Group. Since 2013, Soo Kim has been the Managing Partner and Chief Investment Officer. [1]
Standard Media Group LLC. Standard Media Group is an American broadcast and digital media company based in Nashville, Tennessee. Standard Media was founded in 2018 by Deborah A. McDermott, who serves as the company's CEO. Previously, McDermott was the chief operating officer of Media General and CEO-president of Young Broadcasting.
April 22, 2024 at 12:41 PM. Apparel retailer Express Inc. on Monday filed for Chapter 11 bankruptcy protection. Express said in a press release that it was "continuing to serve customers in stores ...
The bankruptcy of Lehman Brothers, also known as the Crash of '08 on September 15, 2008, was the climax of the subprime mortgage crisis. After the financial services firm was notified of a pending credit downgrade due to its heavy position in subprime mortgages, the Federal Reserve summoned several banks to negotiate financing for its ...
11 U.S.C. §§1113(d), (e) and (f). The debtor's rejection of the collective bargaining agreement does not terminate the debtor's duty to bargain with the union under the NLRA . Even if a bankruptcy court permits the debtor to reject the entire collective bargaining agreement, the debtor may unilaterally implement only those changes in ...