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FAQ / How are reorganizations or liquidations accomplished under chapter 11?Reorganizations are accomplished by a plan of reorganization that is voted on and approved by creditors and/or shareholders and then confirmed by the bankruptcy court, all in accordance with various procedures outlined in the Bankruptcy Code. Liquidations in chapter 11 may be accomplished in the same manner, although in some cases liquidations are accomplished by court authorized sales of assets by the debtor prior to, or without ever, confirming a plan. However, the practice of liquidating through a series of assets sales alone is not favoured by some courts since it is often seen as an effort to circumvent the more rigorous requirements of the plan confirmation process. |
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NewsMay 7, 25Colorado Governor Jared Polis signs bill adding gender marker to death certificates Read More » May 6, 25 Implementation of Real ID acts puts Florida woman without birth certificate in bureaucratic limbo Read More » April 30, 25 US citizen charged with being “unauthorized alien” despite possessing US birth certificate Read More » April 23, 25 Pope Francis died of stroke and irreversible heart failure – death certificate Read More » |