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View synonyms for Chapter 11
Chapter 11
or Chapter Eleven, Chapter XI
noun
, U.S. Law.
- a section of the Bankruptcy Code that provides for the reorganization of an insolvent corporation under court supervision and can establish a schedule for the payment of debts and, in some cases, a new corporation that can continue to do business.
chapter 11
noun
- the statute regarding the reorganization of a failing business empowering a court to allow the debtors to remain in control of the business to attempt to save it
they are in chapter 11
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Word History and Origins
Origin of Chapter 111
C20: from chapter 11 of the Bankruptcy Reform Act (1978)
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