Chapter 11
(redirected from Chapter 11 of the 1978 Bankruptcy Act)Also found in: Legal, Financial.
Chapter 11
n.
1. The chapter of US bankruptcy law by which insolvent businesses may reorganize under court supervision without ceasing business activity or liquidating their assets.
2. The condition in which a business may continue to operate in accordance with this law.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
chapter 11
n
(Law) 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 it: they are in chapter 11.
[C20: from chapter 11 of the Bankruptcy Reform Act (1978)]
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
Chapter 11
or Chapter XI,
n.
a section of the U.S. Bankruptcy Code that provides for the reorganization of an insolvent corporation under court supervision.
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.