Utah Chapter 11 Bankruptcy

A Utah chapter 11 bankruptcy is typically used by businesses or corporations in an effort to reorganize a business. If a business is unable to pay back creditors, it can file a Utah chapter 11 bankruptcy, and attempt to work with its creditors in order to stay in business. Often in a chapter 11 case there is a creditors’ committee, which usually consists of the seven largest creditors. This committee consults with the debtor and helps the debtor formulate a plan. For more on chapter 11 bankruptcy, click here.

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