Chapter 11

(redirected from Chapter 11 of the 1978 Bankruptcy Act)
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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.

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)]

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.