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Are There Advantages to Filing Chapter 11? The biggest advantage is that the entity, usually a business, can continue operations while going through the reorganization process. This allows it to generate cash flow that can aid in the repayment process. The court also issues an order that keeps creditors at bay.

Chapter 11 bankruptcy is commonly called reorganization bankruptcy. It allows a business to continue operations while the business makes a plan to repay or discharge its debts. The plans are designed to keep the business operational during and following the bankruptcy process.

Background. A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy. Usually, the debtor remains ?in possession,? has the powers and duties of a trustee, may continue to operate its business, and may, with court approval, borrow new money.

A corporation or LLC has two options for filing bankruptcy: Chapter 7 liquidation, or Chapter 11 reorganization. In a business Chapter 7 bankruptcy, the business is closed, all assets are liquidated by the bankruptcy trustee, and the proceeds from the business assets are paid out to the business's creditors.

To reinstate your domestic company, non-profit or corporation, file an application for reinstatement online using Fast Track Filing. The reinstatement process will guide you through other documents necessary for reinstating. Reinstatements filed online are usually processed in 1-2 business days.

In order to legally conduct business within the state of Iowa, you will need to register your business.