This type of bankruptcy involves an attempt to allow the firm to reorganize the business under court supervision.

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Chapter 11 bankruptcy is also known as reorganization bankruptcy, which allows a business to restructure its debts and assets under court supervision. This type of bankruptcy is often used by large corporations, but it is also available to small businesses and individuals who exceed the debt limits for Chapter 13 bankruptcy.

This Type of Bankruptcy Involves an Attempt to Allow the Firm