The type of bankruptcy that concerns business reorganization is Chapter:
A)7)
B)9)
C)11.
D)13.

Question

Quizplus · Accepted Answer

Chapter 11 bankruptcy is commonly used for business reorganizations as it allows a business to restructure its debts and operations while continuing to operate. Chapter 7 bankruptcy is a liquidation bankruptcy that is typically used for individuals, while Chapter 9 bankruptcy is for municipalities. Chapter 13 bankruptcy is a reorganization bankruptcy typically used for individuals with regular income.

The Type of Bankruptcy That Concerns Business Reorganization Is Chapter