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chapter 7

noun
1.
(US) the statute regarding liquidation proceedings that empowers a court to appoint a trustee to operate a failing business to prevent further loss
Word Origin
C20: from chapter 7 of the Bankruptcy Reform Act (1978)
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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