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Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
e. 11 U.S.C. § 1113, “Rejection of Collective Bargaining Agreements,” codifies under what circumstances collective bargaining agreements may be rejected in a Chapter 11 Bankruptcy . When a company seeks to reject or modify a collective bargaining agreement under Chapter 11 of the U.S. Bankruptcy Code, Bankruptcy Code §1113, entitled ...
Terms of an employee contract negotiated over years can be eliminated in months through Chapter 11. Terms of the Railway Labor Act, amended in 1936 to cover airlines, prevent most labor union work actions before, during and after an airline bankruptcy. Continental Airlines declared bankruptcy, Chapter 11, a second time in December 1990.
Chicken Soup for the Soul Entertainment, the entertainment company that operates Redbox, Crackle and other businesses, filed for Chapter 11 bankruptcy protection — after failing to pay employees ...
Simply put, Chapter 11 is named for the section of the U.S. bankruptcy code that allows a company to seek protection from creditors while it keeps operating. This way, the company can continue to ...
The Chapter 11 process will help “significantly reduce the company’s debt” while helping to “resolve litigation claims in an equitable […] The post Rite Aid seeks Chapter 11 bankruptcy ...
General Motors Chapter 11 reorganization. The 2009 General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and some of its subsidiaries was implemented through Chapter 11, Title 11, United States Code in the United States bankruptcy court for the Southern District of New York. The United States government-endorsed ...
Chapters. Title 11 is subdivided into nine chapters. It used to include more chapters, but some of them have since been repealed in their entirety. The nine chapters are: [ 2] Chapter 1: General Provisions. Chapter 3: Case Administration. Chapter 5: Creditors, the Debtor and the Estate. Chapter 7: Liquidation.
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