Five different kinds of bankruptcy cases cases are divided into two different types of bankruptcy cases:
- Liquidation – Chapter 7
- Reorganization – Chapters 9, 11, 12 and 13
According to investopedia
- Chapter 7 bankruptcy is called liquidation bankruptcy.
- Chapter 11 bankruptcy is called rehabilitation bankruptcy.
Like common stock, preferred stocks represent partial ownership in a company, each share of preferred stock is normally paid a guaranteed, relatively high dividend and has first right over common stock at the company’s assets in the event of bankruptcy.
- Preferred stock shareholders do not enjoy any of the voting rights of common stockholders.
Computer, Internet & Technology Tips