FILING CHAPTER 11 BANKRUPTCY IN TEXAS
WHAT IS CHAPTER 11?INTRODUCTION
Chapter 11 is typically used by businesses wishing to reorganize. Nonetheless, chapter 11 is not limited business reorganization. A business looking to liquidate its assets may wish to do so under chapter 11. Similarly an individual that does not otherwise qualify for chapter 13 may wish to file for relief under chapter 11.
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
CHAPTER 11 PROCESS
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
DEBTOR IN POSSESSION
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
OFFICE OF THE UNITED STATES TRUSTEE
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
CREDITORS’ COMMITTEE
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
AUTOMATIC STAY
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
CASH COLLATERAL & ADEQUATE PROTECTION
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
DISCLOSURE STATEMENT
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
PLAN OF REORGANIZATION
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
DISCHARGE
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
REVOCATION OF THE CONFIRMATION ORDER
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
FINAL DECREE
Businesses considering reorganization under chapter 11 presume the going concern value of the business is greater than its liquidation value (the sale of its fixed assets). On the other hand, businesses considering liquidation under chapter 11 presume the converse, and choose chapter 11 over chapter 7 so as to retain as much control over the liquidation process as possible.
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Details
Dig a Little Deeper…
chapter 7
The purpose of chapter 7 is to provide the honest individual debtor with a “fresh start” by discharging most, if not all, of the debtor’s debts. A chapter 7 discharge is available only to individuals and not to partnerships or corporations.
chapter 13
Chapter 13 is only available to individuals with regular income from any source, not just wages. The purpose of chapter 13 is to help individual debtors reorganize their finances by making payments to creditors through a Chapter 13 plan.
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