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"The central core of business bankruptcy - section 109" [2019] ELECD 2081; in Lubben, Stephen (ed), "American Business Bankruptcy" (Edward Elgar Publishing, 2019) 9

Book Title: American Business Bankruptcy

Editor(s): Lubben, Stephen

Publisher: Edward Elgar Publishing

Section: Chapter 2

Section Title: The central core of business bankruptcy – section 109

Number of pages: 27

Abstract/Description:

Section 109 of the Bankruptcy Code, titled “Who may be debtor,” identifies which entities are eligible to file under which chapters of the Code. For business debtors, the focus of this work, the key chapters in question are chapter 7 and chapter 11. Larger businesses, even when liquidating, rarely file a chapter 7 case at the outset. Instead, they almost always file chapter 11 no matter what. Assuming a debtor qualifies under chapters 7 or 11, a voluntary or involuntary petition can be commenced under the appropriate chapter. Where to file that petition is another important preliminary question: for a business debtor, the choices include the jurisdiction of incorporation and any location where the debtor conducts significant operations.