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Under Chapter 11, the company's management still oversees daily operations, but must submit more major decisions to the bankruptcy court for approval. While a company is in Chapter 11, its stock may still have some value, but its price will likely have fallen dramatically and will have stopped paying dividends.

6 Benefits of Chapter 11 Bankruptcy for Business Keeping a Business Running During the Bankruptcy Process. ... Automatic Stay of All Creditor Actions. ... Emergency Relief for Operations. ... Possibility of Obtaining Loans at Favorable Rates. ... Treatment of Unexpired Leases and Executory Contracts.

This chapter of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership. A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.

Get Your Filing Fee The fee for filing a Chapter 7 bankruptcy in Montana is $338. If your income is below 150% of the federal poverty guidelines, you're eligible to have your court filing fee waived.

Unlike other types of consumer bankruptcy, Chapter 11 bankruptcy does not strictly define what will happen to debts. Certain types of debts (such as student loans, unpaid child support, and unpaid taxes) are not dischargeable, so if these are part of the bankruptcy, the plan must include a way to pay those back.

Priority claims (such as taxes and back child support) must be paid in full; unsecured debts (like credit card debt and medical bills) are usually paid in part. Depending upon the judgments of those involved with your case, unsecured debts can be paid off for as little as 10 cents on the dollar.