Chapter 11 bankruptcy sentence example
Global Crossing, a long-distance telecoms carrier once valued at some $ 50 billion, filed for Chapter 11 bankruptcy protection.
In late January of 2009, Ashwell's company, Shabby Chic, filed for Chapter 11 bankruptcy.
In 1999, because of declining interest and revenue, Planet Hollywood International, Inc. filed for Chapter 11 bankruptcy reorganization.
For example, corporations and partnerships can file for either Chapter 7 or Chapter 11 bankruptcy.
On a separate note, Sharper Image was forced to file for Chapter 11 Bankruptcy in 2008 largely due to litigation over the advertising of the company's Ionic Breeze product.Advertisement
The hope behind Chapter 11 bankruptcy is that the reorganization allows debt payments to be restructured in a way that allows your business to meet its financial obligations from earnings yet to come.