Chapter 11 (United States Bankruptcy Code)

Chapter 11 of the United States Bankruptcy Code is a legal process that allows businesses and some individuals to reorganize their debts while continuing operations. It helps them develop a plan to repay creditors over time, often while protected from certain collections. The company remains in control of its business during this process, which is overseen by the court. Chapter 11 aims to provide a fresh start while addressing obligations, ultimately enabling the entity to return to profitability and stability without liquidating its assets.