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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.
Standard General became the majority owner of Young Broadcasting after its emergence from chapter 11 bankruptcy in 2010. Young Broadcasting later merged with Media General in November 2013. [17] Following that merger, the combined Media General went on to merge with LIN Media , a transaction that would create the nation's eight largest ...
Sinclair Television Group, Inc. is a subsidiary of Sinclair Broadcast Group that owns television stations in mid-sized markets. In June 2015, Sinclair TV Group, Inc. formed Tornante-Sinclair LLC, a TV production company, with Michael Eisner's Tornante Co. With MGM on October 31, 2015, Comet was launched as a sci-fi broadcast subchannel network.
GM filed for Chapter 11 reorganization in the Manhattan New York federal bankruptcy court on June 1, 2009, at approximately 8:00 am EDT. June 1, 2009, was the deadline to supply an acceptable viability plan to the U.S. Treasury. The filing reported US$82.29 billion in assets and US$172.81 billion in debt.
Sale to Innovation Ventures, LLC. After filing for Chapter 11 bankruptcy on June 28, 2023, the channel's parent company, iMedia Brands, said on July 10 that it could sell its assets to RNN Media Group for $50 million, in a deal scheduled to close in August.
"Bankruptcy is a word that is often misunderstood," Red Lobster's communications team said in the statement posted to social media. "Filing for bankruptcy does not mean we are going out of ...
On April 19, Tijuana Flats, a chain of fast-casual Tex-Mex restaurants, announced it had filed for Chapter 11 bankruptcy and closed 11 restaurants. Flatheads, LLC. is now acquiring the restaurant ...
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 It used to include more chapters, but some of them have since been repealed in their entirety.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.
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