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|Chapter 11 Bankruptcy Finance Articles | May 1 , 2008
Chapter 11 bankruptcy is also known as "Re-organization bankruptcy". It's the most frequent kind of insolvency in the US. It is mostly used in huge organizations or businesses dealing with financial...
Chapter 11 bankruptcy is also known as "Re-organization bankruptcy". It's the most frequent kind of insolvency in the US. It is mostly used in huge organizations or businesses dealing with financial crisis. But it is also used by partnerships, corporations and individuals.
Remember, Chapter 11 Bankruptcy is reorganization, not liquidation. In some cases , filing for Chapter 11 bankruptcy allows a business to continue operating throughout bankruptcy proceedings. What this means is that under difficult circumstances, you now have time to reorganize under the bankruptcy court's supervision. This chapter has no limits on the amount of debt, where as Chapter 13 does.
How it works
Chapter 11 bankruptcy is generally utilized by businesses as a way to restructure their debt without forfeiting their company. To accomplish this, the debtor files a petition which enumerates a list of assets and liabilities , and a thorough account of financial affairs. And several of the company's assets are sold off to remunerate past due creditors. The debtor must then come up with a course of action and have it sanctioned by the creditors.
Warning: If the enterprise walks into the courthouse unprepared, then the results could be that the judge deeds over the business to the biggest creditor you owe.
Limitations & Drawbacks
Chapter 11 bankruptcy is easily the most costly corporate option in terms of legal fees and attorney's costs. Just to file a Chapter 11 Bankruptcy you must surrender a filing fee of $830.00--plus a quarterly administrative fee to the Court. It is not generally utilized by individual consumers because it is far more involved and costly to file.
Chapter 11 Bankruptcy is almost certainly the most flexible of all the chapters, and at the same time the most difficult to generalize. Chapter 11 bankruptcy is a time consuming and expensive chapter, therefore it is only recommended for individuals whose circumstances make Chapter 7 or Chapter 13 inapplicable or inappropriate. Less than 1% of all bankruptcy filings are Chapter 11s.
Comparison with Chapters 13 & 7
Chapter 11 bankruptcy is a good choice when a business has sufficient prospects to continue operations. Businesses are generally allowed to continue to function while in Chapter 11 bankruptcy , though they must do so under the supervision of the bankruptcy court.
Chapter 11 Bankruptcy is unique, because the debtor will generally function as his or her own trustee. This concept is termed "debtor in possession". Businesses that file Chapter 11 bankruptcy are generally are allowed to function under the supervision of the bankruptcy court. In Chapter 7 bankruptcy a business sells off all its assets and eventually stops operation.
Chapter 11 Bankruptcy is not the only option available to a business - reorganization is permitted under Chapter 13, as well. Many times, a sole proprietor may file for personal bankruptcy , which allows for reorganization of the business without the cost of pursuing a Chapter 11.
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Blood Cancer Treatment in India
Posted On : Oct-14-2011 | seen (171) times | Article Word Count : 426 |
Blood Cancer is that type of Cancer which attacks the Blood, the Bone Marrow, or Lymphatic system. There are three types of Blood Cancer 鈥?Leukemia, Lymphoma , and Multiple Myeloma. Blood Cancer is that type of Cancer which attacks the Blood, the Bone Marrow, or Lymphatic system. There are three types of Blood Cancer 鈥?Leukemia, Lymphoma , and Multiple Myeloma. Regular visits to the doctor can result in early screening of the disease and thus, a more successful Blood Cancer Treatment in India. So, make sure you visit your doc at regular intervals.
Leukemia is caused by an abnormal growth of white blood cells in the body. It impairs body鈥檚 ability to make blood. Leukemia causes bone pain, fatigue , weakness, and anemia in the body.
Treatment includes Chemotherapy and Radiation. Bone Marrow Transplants may be required in some cases.
Lymphoma involves Lymphocytes 鈥?a type of white body cell. This disease involves swollen lymph nodes. Besides swollen lymph nodes, this disease may also involve symptoms of Leukemia. Like Leukemia, docs treat this disease with the help of Chemotherapy and Radiation.
Multiple Myeloma primarily attacks the older peopl.