Chapter 11 - Law Dictionary Search Results
Home Dictionary Name: chapter 11chapter 11
chapter 11 : chapter 11 of the U.S. Bankruptcy Code see also Bankruptcy Code in the Important Laws section ...
chapter 11 (business reorganization)
chapter 11 (business reorganization) A petition designed to reorganize business debt. The business normally is permitted to continue its operations under court supervision until some plan of reorganization is approved by the creditors. Source: FindLaw ...
bankruptcy
bankruptcy pl: -cies 1 : the quality or state of a bankrupt [filed for ] 2 : the administration of an insolvent debtor's property by the court for the benefit of the debtor's creditors [the debt was discharged in ] [ proceedings] see also adequate protection Bankruptcy Code in the Important Laws section compare insolvency, receivership NOTE: Bankruptcy protects the debtor from debt collection by creditors. A debtor may file for bankruptcy, which is called “voluntary bankruptcy,” or a creditor may petition the court to declare the debtor bankrupt, which is called “involuntary bankruptcy.” Involuntary bankruptcy is allowed only under chapter 7 or chapter 11 of the U.S. Bankruptcy Code. There are four types of relief available to individuals or corporations under the Bankruptcy Code: liquidation (chapter 7), reorganization (chapter 11), debt adjustment for a family farmer (chapter 12), and debt adjustment for an individual with a regular income (chapter 13). M...
trustee in bankruptcy
trustee in bankruptcy :an officer of the court in whom ownership of a debtor's property is vested for the benefit of the creditors and who administers the property for the purpose of making payments to the creditors according to the priority of their claims: as a : the trustee in a chapter 7 or chapter 11 case who is charged with duties that include collecting the property comprising the bankruptcy estate and reducing it to money for payment of claims b : the trustee in a chapter 12 or chapter 13 case who is charged with duties that include distributing payments made by the debtor in accordance with a confirmed plan called also bankruptcy trustee see also debtor in possession ...
disclosure statement
disclosure statement A written document prepared by a chapter 11 debtor or other plan proponent designed to provide "adequate information" to creditors to enable them to evaluate the chapter 11 plan of reorganization. Source: Administrative Office of the U.S. Courts ...
small business case
small business case A special type of chapter 11 case in which there is no creditors' committee (or the creditors' committee is deemed inactive by the court) and in which the debtor is subject to more oversight by the U.S. trustee than other chapter 11 debtors. The Bankruptcy Code contains certain provisions designed to reduce the time a small business debtor is in bankruptcy. Source: Administrative Office of the U.S. Courts ...
Chapter
Chapter [fr. Apitulum, Lat.], a congregation of ecclesiastical persons in a cathedral church, consisting of canons or prebendaries whereof the dean is the head, all subordinate to the bishop, to whom they act as assistants in matters relating to the church, for the better ordering and disposing the things thereof, and the confirmation of such leases of the temporality and offices relating to the bishopric, as the bishop shall make from time to time. And they are termed capitulum, as a kind of head, instituted not only to assist the bishop in manner aforesaid, but also anciently to rule and govern the diocese in the time of vacation, Burn's Dict.The Chapter of the bankruptcy code allowing a trustee to collect and liquidate a debtor's property either voluntarily or by court order, to satisfy creditors, Black's Law Dictionary, 7th Edn.Chapter shall mean a Chapter of the Act or Regulation in which the word occurs. [General Clauses Act, 1897 (10 of 1897)]...
absolute priority rule
absolute priority rule : a rule that provides for the satisfaction in full of claims of senior creditors before any payments can be made to junior creditors under a chapter 11 bankruptcy plan ...
cash collateral
cash collateral : cash or cash equivalents (as negotiable instruments, securities, and documents of title) as specified in section 363 of chapter 11 of the Bankruptcy Code in which both the estate and another entity have an interest see also Bankruptcy Code in the Important Laws section ...
debtor in possession
debtor in possession :a debtor who remains in possession of an estate during chapter 11 or 12 bankruptcy and has the same duties as a trustee in bankruptcy ...
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