Chapter 7 vs Chapter 11 Bankruptcy. What’s the difference?

Questions to answer before you file that lawsuit
Are you struggling financially in your business? You may have a couple bankruptcy options available to you.

Chapter 7 is usually reserved for those companies that are struggling so badly they cannot stay afloat. The business is dissolved, assets are liquidated, and any proceeds from the sale are distributed between shareholders and creditors.

Chapter 11 bankruptcy, on the other hand, is filed when the business owner wants to save his company. This solution is referred to as reorganization bankruptcy. The business is allowed to remain open while completing the bankruptcy process.

Learn more about business bankruptcy here.

Glenn A. Brown, Esq.

Attorney Glenn Brown and the Real World Law team provides legal protection to homeowners and businesses in eminent domain and condemnation actions, commercial and residential real estate closings, and other litigation matters. If you're a property owner in need of legal protection, contact our law firm. We've two convenient office locations, serving communities in and around Upper Darby, PA and Wilmington, DE.

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