Conversion | Practical Law

Conversion | Practical Law

Conversion

Conversion

Practical Law Glossary Item 9-382-3364 (Approx. 2 pages)

Glossary

Conversion

The changing of a bankruptcy case from one chapter to another, such as converting from Chapter 11 (reorganization) to Chapter 7 (liquidation) or vice-versa. Conversion may be voluntary by the debtor or involuntary at the insistence of a party in interest. A case may not be converted unless the debtor satisfies the eligibility requirements to be a debtor under the other chapter.