united-states business bankruptcy
Bankruptcy Chapter 8
<p>Why there is no chapter 8 bankruptcy?</p>
<p>I am a novice in law with no background in legal studies, but in business news, companies file for chapter 7 or chapter 11 bankruptcy. I am wondering what are these chapters and what is chapter 8, why only chapter 7 and 11 deals with business bankruptcy?</p>

<p>The law which handles this is <a href="https://www.law.cornell.edu/uscode/text/11" rel="nofollow noreferrer">Title 11 of the United States Code</a>, which has had several chapters repealed so there is no Chapter 8.</p>
<p>The Title covers all manner of bankruptcy, including liquidation (where the entity ceases to exist as a trading entity), which is Chapter 7, and reorganization (where the entity gains protection from their creditors while trying to re-organize into a profitable trading entity), which is Chapter 11.  Other chapters deal with things such as estates etc.</p>
