Business Bankruptcy: An Overview

By |2014-06-30T15:35:19+00:00June 30th, 2014|

Very few Chapter 11 creditors’ meetings resemble Detroit’s $17 billion “cram down” meeting, where Detroit Emergency Manager Kevyn Orr sits down with some 150 to 200 creditors and goes through a 200-page restructuring plan as a prelude to a potential Chapter 9 municipal bankruptcy. Chapter 11 of the Bankruptcy Code is the traditional business bankruptcy [...]