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Chapter 11

or Chapter Eleven, Chapter XI

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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.
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How to use Chapter 11 in a sentence

British Dictionary definitions for Chapter 11

chapter 11

noun
US 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 itthey are in chapter 11

Word Origin for chapter 11

C20: from chapter 11 of the Bankruptcy Reform Act (1978)
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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