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What is Chapter 11?

Bankruptcy chapter 11 declare
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What is Chapter 11?

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Today, this form of financial reorganization is widely viewed as an effective strategy to strengthen businesses and restructure debt obligations in an organized fashion. Chapter 11 is a legal mechanism for court-supervised reorganization or modification of a company’s debt. Chapter 11 provides a way for companies to gain time to restructure or reduce their debts while continuing day-to-day operations.

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