Chapter 11

The chapter in the U.S. Bankruptcy Code allows a financially troubled company to reorganize rather than liquidate. <a class="taxInlineTagLink" id="ORCRP008980" title="Lehman Brothers Holdings Inc." href="/topic/economy-business-finance/lehman-brothers-holdings-inc.-ORCRP008980.topic">Lehman Brothers Holdings Inc.</a>, which listed $639 billion in assets as of its Chapter 11 filing in 2008, is the largest bankruptcy in U.S. history. Above, a Lehman Bros. employee outside the firm's London offices after the bank's collapse.

( Andy Rain / EPA )

The chapter in the U.S. Bankruptcy Code allows a financially troubled company to reorganize rather than liquidate. Lehman Brothers Holdings Inc., which listed $639 billion in assets as of its Chapter 11 filing in 2008, is the largest bankruptcy in U.S. history. Above, a Lehman Bros. employee outside the firm's London offices after the bank's collapse.

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