chapter 11








noun U.S. Law.

  1. 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.

noun

  1. 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
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