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

Hughes Network Systems, owned by EchoStar, filed for Chapter 11 bankruptcy on Sunday.

From The Wall Street Journal ● Aug. 3, 2026

The drugmaker tried three times to force a settlement through bankruptcy, funneling the claims into a subsidiary and putting that subsidiary into Chapter 11 bankruptcy.

From The Wall Street Journal ● Jul. 27, 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

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

Villa Chardonnay filed for Chapter 11 bankruptcy in October 2025 after the property in Julian went into foreclosure stemming from a $1.6-million unpaid loan, according to court records.

From Los Angeles Times ● May 9, 2026