Jurisdiction(s):
United Kingdom

Key definition

Chapter 11 definition

What does Chapter 11 mean? In UK and Irish legal practice, “Chapter 11” refers to the US debtor-in-possession corporate reorganisation process under Chapter 11 of the United States bankruptcy Code. It is a US statutory procedure; in the UK and Ireland the term is used descriptively to denote that regime. Key features include: an automatic stay; the debtor’s management remaining in control as debtor-in-possession; court-approved DIP financing; the ability to assume or reject executory contracts and leases; asset sales (often via section 363); and court confirmation of a reorganisation plan that can bind dissenting creditor classes through cramdown. Chapter 11 is not available in England &...

Guide to US Chapter 11 for UK Lawyers: Filing, Automatic Stay, DIP Financing, Creditors’ Committees, Claims and Litigation, Section 363 Sales, Plans and Confirmation

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

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Updated for the UK by the Practical Guidance Team.

A debtor-in-possession (DIP) is required to run the enterprise, act as a fiduciary or trustee for the bankruptcy estate, and put forward a reorganisation proposal that creditors can accept. These responsibilities are supported by the DIP’s management team, its board of directors, and appointed insolvency solicitors. Advisers should be aware that where the Bankruptcy Code refers to acts of the trustee, those provisions equally cover the DIP while the debtor controls its operations and no trustee has been installed to administer the estate. In broad terms, a voluntary chapter 11 case proceeds through a comparable, standard sequence of steps...

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Web page updated on 22/05/2026

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