|
A. ELIGIBILITY FOR RELIEF
Relief under Chapter 11 is available to any person (individual,
corporation, or partnership) who qualifies to be a debtor under
Chapter
7 of the bankruptcy code, except for a stockbroker or a commodity broker.
In addition, railroads are eligible for relief under special provisions
of Chapter 11 of the bankruptcy code.
2. Business or Consumer:
Chapter 11 is designed primarily for business reorganizations. However,
the Supreme Court has held that a consumer bankruptcy debtor (i.e., an individual
not engaged in business) also may qualify for relief under this chapter.
[Toibb v. Radloff, HIS. Ct. 2197 (1991)], San Diego Bankruptcy Reporter.
Arrange Free Consult
Bankruptcy News