Chapter 11 deals mainly with corporate bankruptcy. One of the principle features of it being that it allows businesses to reorganize themselves and restructure their debt issues.
It also allows them to get themselves out from certain restrictive contracts and agreements. One of main advantages of filing bankruptcy chapter 11 is that the stockholder’s personal assets are not at risk; only the value of investment in the company stocks is lost.
This is information only in nature and is not legal advice nor does it take the place of consulting with a licensed attorney. Please consult with a licensed attorney for your legal rights.