Chapter 11 Bankruptcy Definition:
Chapter 11 is a reorganization. It permits a person or business to get protection from it’s creditors while conducting it’s business. Anyone may file a chapter 11 bankruptcy except a stockbroker, a commodity broker, non-business trust, an estate, an SBA-licensed small business investment company, or a governmental agency. There are other circumstances where an individual may not file a Chapter 11 bankruptcy if they had a case dismissed within the last 180 days.