Chapter 11 Helps Small Businesses Restructure

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In the field of bankruptcy law, there are typically a number of bankruptcy options available to debtors at any given time. Small businesses often must choose between Chapter 7, Chapter 13, and Chapter 11 bankruptcy, each of which has its own benefits and drawbacks. Chapter 13 bankruptcy requires small businesses owned by a partnership, corporation, or limited liability company to sell available assets, while Chapter 7 bankruptcy pertains only to businesses owned by individuals. Thus, for certain types of small businesses, Chapter 11 bankruptcy is the only option that allows them to continue operating. 

A business can restructure its finances and implement a reorganization plan, contingent on the approval of a bankruptcy court. Chapter 11 plans can help small businesses to balance their income and expenses, primarily by modifying payment terms and reducing obligations. In some cases, Chapter 11 debtors may pay off outstanding claims or downsize the business. As a result, the business can continue to operate and attempt to regain profitability.

Open A Door Supports Women’s Education in Afghanistan

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An international nonprofit dedicated to developing female leadership in countries recovering from armed conflict, Open A Door aims to connect women with college education programs and mentorship opportunities. For nearly 15 years, the organization has worked to empower women in Afghanistan and help them become leaders in their communities. With the support of the U.S. government, as well as the international community, Open A Door has made significant progress in areas such as education, safety, participation, and political empowerment.

Today, for the first time in the history of Afghanistan, women can hold positions of power in various social, economic, and political organizations. In addition to helping women obtain postsecondary degrees in the United States, Open A Door equips them with the confidence and communication skills necessary to challenge authority and bring about meaningful change. Through a program titled Supporting Her Education Changes a Nation (SHE-CAN), the organization plans to unite more than 50 colleges and universities across the globe in support of women’s education and empowerment in Afghanistan. 

To learn more about Open A Door, visit the official website at www.openadoorfoundation.org.