- Aug 14, 2008
- Reaction score
- Patriotic American Muslim
Incorrect fake attorney ...Never mind; as an attorney who worked years in bankruptcy practice, I assure you that insolvency is a requirement to qualify for chapter 11 filing in federal bankruptcy court.
A voluntary Chapter 11 bankruptcy doesn't require insolvency provided it's filed for the purpose of reorganization.
1. What is Chapter 11? Chapter 11 is the chapter of the Bankruptcy Code that permits a person or business to reorganize while obtaining protection from its creditors. Chapter 11 of the Bankruptcy Code is entitled “Reorganization”. The Bankruptcy Code is the name given to that portion of the...