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Second Amended Chapter 11 Plan of Liquidation Corporate Form

Second Amended Chapter 11 Plan of Liquidation Corporate Form

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welcome to the five minute legal Master Series where expert attorneys help you master important legal topics today board certified creditors rights and business bankruptcy attorney Kirk Berkeley discusses the chapter 11 process today we're going to talk about the chapter 11 process and specifically that relates to chapter 11 of the United States Bankruptcy code chapter 11 historically was thought of as the reorganization chapter that means a company goes into bankruptcy under chapter 11 and that company would then reorganize its business Affairs and restructure its debts and emerge from chapter 11. today that's that's not always the case in fact we're starting to see more and more chapter 11 liquidations as well as more and more individuals that are filing for bankruptcy protection under chapter 11. but chapter 11 still differs from the other bankruptcy chapters uh in a few important ways number one the debtor remains in possession of its assets so unlik

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