chapter 7

British

noun

the statute regarding liquidation proceedings that empowers a court to appoint a trustee to operate a failing business to prevent further loss

"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

Etymology

Origin of chapter 7

C20: from chapter 7 of the Bankruptcy Reform Act (1978)

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

Court records show Buzzard has faced financial instability in recent years, including a Chapter 7 bankruptcy filing and multiple civil collections cases.

From Los Angeles Times

In September, subprime auto lender Tricolor filed for Chapter 7 bankruptcy protection, sending shock waves through the credit markets.

From Barron's

Dallas-based Tricolor Holdings filed for Chapter 7 bankruptcy protection in September, days after abruptly closing its 65 lots across six states.

From Barron's

Federal court records show that Buzzard filed for Chapter 7 bankruptcy in 2017.

From Los Angeles Times

Weeks earlier TriColor Holdings, a subprime auto lender and used-car retailer, filed for Chapter 7 liquidation.

From The Wall Street Journal

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023