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→Bankruptcy Code Chapters: add chapter 9
Chapter 7 bankruptcies are most common in the business realm, whereby a business declares total insolvency and seeks to cease doing business forever.
Chapter 7 bankruptcies are most common in the business realm, whereby a business declares total insolvency and seeks to cease doing business forever.
===Chapter 9===
A '''Chapter 9''' bankruptcy is limited to governmental entities such as cities, counties, school districts, and other local entities. Notably, states and territories are not permitted to file under this Chapter (as such, the ongoing [[Puerto Rico]] debt crisis cannot be resolved under this Chapter).
===Chapter 11===
===Chapter 11===