Bankruptcy Code Sections 1101-1174

The Bankruptcy Code Sections 1101-1174 establish the legal framework for Chapter 11 bankruptcy, primarily guiding how distressed businesses reorganize rather than liquidate. These sections define key terms, procedures for filing, the roles of creditors and debtors, and the court's authority to approve reorganization plans. They ensure transparency, fairness, and orderly resolution of financial issues, allowing a business to restructure debt and operations while continuing to operate. The goal is to maximize the value for all parties involved, providing a structured process that balances creditor rights with the debtor’s opportunity for recovery and future viability.