Chapter 11 Bankruptcy is a reorganization. It in not a liquidation. Many companies that file for protection under Chapter 11 of the Federal Bankruptcy Act do so because they cannot pay a major creditor, or they are seeking protection because they have been named in a lawsuit. The lawsuit may be legitimate or not. Even an illegitimate lawsuit must be addressed.

Many large and/or successful companies have filed for protection under Chapter 11 more than one time. Following is a partial list of these companies: