What is Chapter 11 bankruptcy? Understand the basics By Cointelegraph

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In the complex world of finance and business, bankruptcy serves as a crucial mechanism that allows struggling companies to reorganize and regain financial stability.

One of the most well-known forms of bankruptcy is Chapter 11, a legal process in the United States that grants businesses the opportunity to restructure their operations while protecting them from creditors’ immediate demands. This article delves into the intricacies of Chapter 11 bankruptcy, its objectives, procedures and notable examples within the realm of the cryptocurrency industry.

The objectives of Chapter 11

Prime Trust

Bittrex

SVB Financial Group

Genesis Global Capital

Core Scientific Inc

BlockFi

Celsius Network

Three Arrows Capital (3AC)

Voyager Digital