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Can a Non-Profit Organization file for Bankruptcy?

Posted By Majed on Jan 28, 2011 7:00am PST
Yes.  Under the bankruptcy code, any individual living in or business housed in the United States may file for bankruptcy.  This includes a not-for-profit organization. Non-profits have the same filing options as any for-profit business.  The entity could file for a straight Chapter 7 liquidation and dissolve the business or restructure under Chapter 11.

The bankruptcy code offers myriad options for varying circumstances. The Fears | Nachawati Law Firm recognizes this and offers custom representation and solution as individual as our clients.
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