Chapter 11 Bankruptcy for Small Businesses
Chapter 11 bankruptcy is a type of reorganization bankruptcy often used by large corporations and businesses. Because Chapter 11 can be expensive, time-consuming, and complex, small businesses often opt to use other forms of bankruptcy.
Chapter 11 is the only bankruptcy option, however, for a small business seeking to restructure and continue in operation if it is owned by a partnership, limited liability company, or corporation. (Chapter 13, the other reorganization bankruptcy, can only be filed by individuals.) In addition, because your debts must be under certain limits to file for Chapter 13, if you owe lots of money to creditors, Chapter 11 may be your only way to file for bankruptcy and stay in business.
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Chapter 11 Bankruptcy: An Overview
Learn how Chapter 11 bankruptcy works.
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Chapter 11 Bankruptcy for Small Business Owners
With Chapter 11 bankruptcy, a small business can restructure and eliminate debts and continue in operation. A small business debtor is defined as having not more than $2,725,625 as of April 1, 2019.
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How Chapter 11 Bankruptcy Can Help Small Businesses During Coronavirus Outbreak
Chapter 11, Subdivision V can help small businesses reorganize debt and stay in business during the coronavirus (COVID-19) outbreak. Find out more about the new bankruptcy chapter--Chapter 11, Subdivision V--and why it's cheaper and easier to use than a traditional Chapter 11 case.
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Chapter 13 v. Chapter 11 Bankruptcy for Small Business Owners
Learn about the differences between Chapter 11 and Chapter 13 business bankruptcies.
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