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chapter 11
(redirected from Chapter 11 bankruptcy)

    Also found in: Financial, Wikipedia 0.01 sec.
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
[from chapter 11 of the Bankruptcy Reform Act (1978)]
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In a statement, the Indian energy giant said it has submitted to LyondellBasell, a preliminary non- binding offer to acquire for cash, a controlling stake in it upon its emergence from Chapter 11 bankruptcy pursuant to its plan of reorganisation.
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Chapter 11 bankruptcy is available to individuals, corporations and partnerships.
CHANGES FOR A BRIGHTER FUTURE by The Santa Fe New Mexican (Santa Fe, NM)
 
 
 
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