Chapter 11

(redirected from Chapter 11 bankruptcy)
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Chapter 11

(US) part of the Bankruptcy Reform Act of 1978 that allows an alternative to liquidation under Chapter 7. The business is preserved as a going concern. There is usually no trustee, and the business maybe conducted by a committee of creditors. The debtor is given 120 days to submit a plan for liquidation or reorganization. All significant decisions need to be approved by the Bankruptcy Court. For the UK process of administration, see ADMINISTRATOR.
Collins Dictionary of Law © W.J. Stewart, 2006
References in periodicals archive ?
In an affidavit contained in the Chapter 11 bankruptcy petition, filed Sept.
Bill Davis Trucking filed for Chapter 11 bankruptcy protection in 2007.
Northwest Airlines is seeking to lower its annual fleet ownership costs by $400 million as part of its Chapter 11 bankruptcy restructuring.
The airline has been in Chapter 11 bankruptcy protection since December 2002.
Three discount department store chains filed for Chapter 11 bankruptcy. Two leading discount apparel chains are merging, as are the two "smaller" home improvement store chains, which will ultimately result in store closings in both sectors.
Gravis' grass farm asked the bankruptcy court judge to dismiss its Chapter 11 bankruptcy reorganization or convert it to a Chapter 7 liquidation, but it was actually the U.S.
NWA asked the court to allow it to convert the funds to permanent exit financing it said will secure part of the debt financing needed to emerge eventually from Chapter 11 bankruptcy protection.
Standard and Poor's analyst Jim Corridore is surprised to learn that Northwest Airlines (NasdaqNM:NWAC) is considering filing for Chapter 11 bankruptcy protection so soon.
ABC will be expanding immediately into the ground floor, second floor and lower level, which had previously been occupied by a large photographic equipment retailer who had disaffirmed its lease upon entering Chapter 11 bankruptcy proceedings.
Ben Israel, who filed Chapter 11 bankruptcy on Sept.
ATA Airlines, currently in Chapter 11 bankruptcy protection, has reported a net income of USD2.97m for July 2005.
On the commencement of a Chapter 11 bankruptcy case, the bankruptcy code requires the receiver to redeliver the property to the landlord as the "debtor in possession.