or Chapter Eleven, Chapter XI
- 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.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018
- 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