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A company must certanly be categorized being a firm, partnership, or LLC to register a Chapter 11 bankruptcy.

A company must certanly be categorized being a firm, partnership, or LLC to register a Chapter 11 bankruptcy. A business can only file under Chapter 11 if they’re not able to register under virtually any sort of bankruptcy. The moment a Chapter 11 bankruptcy is announced, an automated stay starts that stops any creditors from gathering debts. You are allowed…