Chapter 12 Bankruptcy for Family Farmers 04/17/2018 The U.S. Bankruptcy Code provides unique benefits for family farmers. Background Chapter 12 is tailored to meet the unique financial difficulties that family farmers face. It is designed to be an efficient and streamlined process that will likely be significantly more affordable than a corporate Chapter 11 reorganization. There are certain requirements a person must meet to file a Chapter 12 bankruptcy. These requirements include: The filer must be a family farmer or family fisherman
The U.S. Bankruptcy Code provides unique benefits for family farmers. Background Chapter 12 is tailored to meet the unique financial difficulties that family farmers face. It is designed to be an efficient and streamlined process that will likely be significantly more affordable than a corporate Chapter 11 reorganization. There are certain requirements a person must meet to file a Chapter 12 bankruptcy. These requirements include: The filer must be a family farmer or family fisherman