The bankruptcy code treats all creditors equally, and preferential payments can be clawed back. ... Chapter 7 bankruptcy can offer a financial reset, but it's not without consequences.

Chapter 7 bankruptcy is a section of the United States Bankruptcy Code that gives a debtor, the person in debt, a chance to wipe away their debts. However, this comes at a cost.

Canoo Inc. filed for Chapter 7 bankruptcy due to unsuccessful efforts to secure ... today announced that it has filed a voluntary petition for relief under Chapter 7 of the U.S. Bankruptcy Code.

According to court documents obtained by Us, Radford Motors filed a voluntary petition for relief under Chapter 11 of the bankruptcy code in October 2024. The move was made “in order to continue ...

Local Turkey Leg Hut bankruptcy reclassified from Chapter 11 to Chapter 7. Last month, the restaurant was shutdown due to 34 health code violations from the Houston Health Department.