Chapter 14 Bankruptcy
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What Is Chapter 14 Bankruptcy?
Chapter 14 is a section of the bankruptcy code that provides relief for multinational and national corporations that are facing major financial difficulties, but do not want to file a Chapter 11 bankruptcy.
Chapter 14 is designed to help prevent major bailouts. However, some argue that Chapter 14 is redundant and Chapter 11 is flexible enough to address this problem.
Who Can File?
Chapter 14 is reserved for those companies deemed too big to fail. The goal of Chapter 14 is to reorganize and restructure the debt in such a way as to avoid the irreversible step of a Chapter 11 bankruptcy.
Do I Need a Lawyer if I Have Questions About Chapter 14 Bankruptcy?
Understanding bankruptcy codes can be a challenge even for experienced professionals. If you are facing business hardships that may involving filing for bankruptcy, you should consult the expertise of hire a bankruptcy lawyer.
Consult a Lawyer - Present Your Case Now!
Last Modified: 11-25-2013 02:51 PM PST
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