Introduction
Federal Bankruptcy and Chapter 11
The Federal Bankruptcy system in the United States is particularly unique in that it provides debtors, creditors, and other interested stakeholders an opportunity to meet in a legal forum and balance their unique needs with the goal of reaching what is commonly referred to as a “fresh start” either through a discharge or structured repayment plan. Chapter 11 restructuring proceedings are particularly unique in that they provide detailed restructuring programs to businesses that are not as readily available in other jurisdictions outside of the U.S. Chapter 11 reorganizations essentially allow businesses that have filed for bankruptcy proceedings to continue operating while they consolidate their debts and restructure their organization in a manner that grants them time to negotiate with creditors, and develop a court-approved plan to repay their debts over time without liquidating entirely. This is beneficial to both employer and employee, because it means that insolvency is not the necessarily the end of a company’s journey but can also be a means of avoiding layoffs.
Research Guide Purpose
About This Research Guide
This research guide aims to cover the sources needed by a researcher or practitioner preparing to tackle an issue relating to Chapter 11 Bankruptcy in a quick and reliable manner. Considering there are several different chapters of bankruptcy law, each with their own sets of rules and procedures aiming to serve a distinct purpose, it is important to set aside the intricacies and procedures of Chapter 11 independently so that the practitioner can counsel their client to the best of their ability. In doing so, they will require quick access to key statutes, case law, regulatory materials and practical insights necessary for any case or research project. The research guide is organized in a manner that prioritizes primary authorities for the topic first, and slowly works its way down to secondary authorities, and finally ends with other miscellaneous tools such as guidance to administrative agencies, legislative history, and practical guidance. That way, the information is organized from most-binding to least-banding authorities of law while still allowing the widest possible basket of resources for the researcher to choose from.