Chapter 11 bankruptcy


A provision of the U.S. bankruptcy law which enables a failing firm to apply to the courts for protection against all creditors while it is reorganized to pay its debts. This provision enables a firm to avoid being closed down by any single creditor and gives investors a chance to decide whether the firm can again be made profitable. At the same time, it gives dishonest management the opportunity to loot the firm's assets while the case is before the courts.

QUIZZES

THINK YOU’VE GOT A HANDLE ON THIS US STATE NICKNAME QUIZ?

Did you ever collect all those state quarters? Put them to good use on this quiz about curious state monikers and the facts around them.
Question 1 of 8
Mississippi’s nickname comes from the magnificent trees that grow there. What is it?
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.