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.
USthe 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)
