Chapter 11 is a part of the United States Bankruptcy Code that permits a debtor to reorganize under federal bankruptcy law. It is available to businesses and individuals, though it is most commonly used by companies.

Unlike Chapter 7, which governs liquidation, Chapter 11 is generally a reorganization process. Liquidation may also occur under Chapter 11.

LIV Golf filed for Chapter 11 protection as part of an effort to restructure after the withdrawal of funding from Saudi Arabia’s Public Investment Fund.