Chapter 11 bankruptcy gives European firms protection while they dissolve the organization.

Question

Quizplus · Accepted Answer

Chapter 11 bankruptcy is a provision in the bankruptcy code of the United States. It is not applicable to European firms as they have their own bankruptcy laws and procedures. Additionally, Chapter 11 provides a means for a business to restructure and continue operations, rather than solely dissolve the organization.

Chapter 11 Bankruptcy Gives European Firms Protection While They Dissolve