Chapter 11 Bankruptcies are filed to reorganize businesses or for individuals that have multiple properties or high debt limits. Chapter 11 Bankruptcy is a viable option when properties will “cash flow” when they are “marked down” to present value by Court Order in a Chapter 11 case. This is a popular and effective application of Individual Chapter 11 here in Las Vegas.
This process takes about 90 days after the case is filed. The one required court hearing, the §341 Meeting of Creditors, is approximately 30 days after filing. Discharge can be then entered approximately 60 days after the Meeting of Creditors in most cases.