The chapter 11 in USA gives you ample flexiblity to survive then why create the cap 11 . or the PLL or PLC or LTD co.
A "Limited company" (abbreviated Ltd or PLC, Plc or plc) is a business structure used in Europe and Canada, in which shareholder responsibility for company debt is limited, usually to the amount he/she has invested in the company. (see ref below)
This is a feature that allows companies to raise capital by selling stock because, if a company goes bankrupt, a shareholder isn't liable for debt or liability of a company beyond a set small amount.
If you and Jones invest together and form a partnership — Smith and Jones — and you put in $5 and Jones puts in $5 – then if Jones borrows $500,000 or gets your company sued for $1 million– *you* Mr. Smith are liable for all the debt. But if you form a limited corporation and each own $5 shares, your liability is limited.
