Chapter 11

Part of the US bankruptcy code.

It is started by the filing of either a voluntary petition by the debtor[?], or an involuntary petition by creditors[?].

A stay of creditor actions against the debtor automatically goes into effect when the bankruptcy petition is filed. The stay provides a breathing spell for the debtor during which negotiations to resolve the financial situation can take place and a reorganization plan can be proposed.

See also:

• Chapter 7

External links:

• Complete Title 11 (ZIP) (http://uscode.house.gov/DOWNLOAD/Title-11.ZIP)
• Chapter 11 (http://uscode.house.gov/DOWNLOAD/11C11.DOC)