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 (Legal Dictionary: Bankruptcy Law)

United Glossary of Bankruptcy Terms 2012.

Glossary of Bankruptcy.

Look at other dictionaries:

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  • reorganization — 1) In the US, the process of restructuring a company that is in financial difficulties. Protection against creditors can be sought under chapter 11 of the Bankruptcy Reform Act (1978) while such a reorganization back to profitability is being… …   Big dictionary of business and management

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  • plan of reorganization — the document setting forth how a bankrupt company plans to satisfy its creditors. The plan of reorganization is the cornerstone of a successful Chapter 11 bankruptcy (Glossary of Common Bankruptcy Terms) A debtor s detailed description of how the …   Glossary of Bankruptcy

  • liquidating reorganization — an informal term for a Chapter 11 proceeding when the company is essentially liquidated through one or more asset sales (Glossary of Common Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

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