Chapter 11

Chapter of the Code that governs reorganization of debts of business entities and individuals not eligible to reorganize under Chapter 13 (see Chapter 13). Chapter 11 allows the debtor to attempt to reorganize its financial affairs or liquidate its assets under a Chapter 11 plan. Under Chapter 11 the debtor typically remains in possession of its assets, but the court under certain conditions can displace the debtor in possession with a Chapter 11 trustee.

Bankruptcy Code ยงยง 1101-1146.

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