Chapter 11 bankruptcy

Cultural  

1. A provision of the U.S. bankruptcy law which enables a failing firm to apply to the courts for protection against all creditors while it is reorganized to pay its debts. This provision enables a firm to avoid being closed down by any single creditor and gives investors a chance to decide whether the firm can again be made profitable. At the same time, it gives dishonest management the opportunity to loot the firm's assets while the case is before the courts.

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Chapter 11 bankruptcy

When McCourt sold the team to Walter’s Guggenheim group, the franchise was in Chapter 11 bankruptcy.

From Los Angeles Times ● Aug. 20, 2026

Pro-business legal architecture ensured a greater tolerance for business failures than in Europe; Chapter 11 bankruptcy reorganization is designed to preserve and restructure viable firms, rather than push them into liquidation.

From MarketWatch ● Jun. 28, 2026

The store closed more than five years ago in the wake of a 2018 filing by its parent company for Chapter 11 bankruptcy protection.

From Los Angeles Times ● Jun. 19, 2026

Parent company Luminar Technologies struck an agreement to sell the business after filing for Chapter 11 bankruptcy last December.

From Barron's ● May 11, 2026

The company filed for Chapter 11 bankruptcy in November 2024.

From The Wall Street Journal ● Apr. 26, 2026