Research Paper on:
Bankruptcy Reorganization Chapter 11

Unformatted Sample Text from the Research Paper:
two years. The number of businesses filing for reorganization is alarming but, as this essay points out, given the sincere effort on honest officials of a company, certain bankruptcy chapters  provide relief, an opportunity to reorganize and become prosperous again. At the same time, reorganization bankruptcy can give creditors a far better chance of being paid than the straight liquidation  chapters of the bankruptcy code. This essay explains the procedures and benefits of the different chapters with an emphasis on Chapter 11. Introduction The United States bankruptcy law allows  a debtor who cannot pay his or her bills to resolve the issue by dividing assets among the various creditors.1 Bankruptcy cases are supervised by bankruptcy courts throughout the nation.  The laws provide for a certain amount of equality among creditors although some will receive a greater proportion of what is owed to them than others.2 Some of the codes  allow companies to continue operating and to use their revenue to satisfy debts.3 Other parts of the law allow debtors to be absolved from paying anything when they are unable  to do so.4 The bankruptcy law is included in Title 11 of the United States Code.5 States also have laws related to procedures and such but it is the federal  provisions that include the requirements and procedures for bankruptcy. Bankruptcy cases are heard, supervised and litigated in the United States Bankruptcy Courts, which are part of the District Courts of  The United States.6 There are two primary kinds of bankruptcy: Chapter 7 is liquidation; the other chapters involved reorganization that allow the debtor to pay off creditors but in  a slower manner.7 Trustees are appointed in all chapters.8 The different chapters in the Federal Bankruptcy codes, including: * Chapter 7, which is most often referred to as "Straight