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Chapter 11 bankruptcy
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Chapter 11 bankruptcy
as in:  filed Chapter 11


They filed for Chapter 11 protection.
  the chapter in the United States Bankruptcy Code that contains the provisions permitting a debtor to retain control of a business while trying to work out arrangements that will permit the business to continue
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Chapter 11 bankruptcy Chapter 11
Notes:
Creditors are paid according to a court-approved plan and are paid an amount that is no less than would be received under a Chapter 7 bankruptcy (where all assets are sold and the company ceases operations)
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Samples:
  • They filed for Chapter 11 protection.
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Associated words [difficulty]:   Chapter 11 bankruptcy [3] , bar [1] , grand jury [5] , recuse [5] , circumstantial evidence [6] , entrapment [6] , extradition [6] , inside information [6] , subpoena [6] , conflict of interest [7] , restraining order [7] , certiorari [8] , class action [8] , power of attorney [8] , pro bono [8] , public domain [8] , tort [8] , Uniform Commercial Code [9] , bench warrant [9] , collective bargaining [9] , corpus delicti [9] , de jure [9] , demurrer [9] , deponent [9] , ex parte [9] , notary public [9] , prima facie [9] , pseudoscience [9]
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Most commonly used in these subjects:   Law, Business, Personal Finance
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