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chapter 7
(redirected from Chapter 7 Proceedings)

    Also found in: Financial 0.01 sec.
chapter 7
n
(Law) US the statute regarding liquidation proceedings that empowers a court to appoint a trustee to operate a failing business to prevent further loss
[from chapter 7 of the Bankruptcy Reform Act (1978)]
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CHAPTER 13 Two of the alternatives available to many individual taxpayers are chapter 7 proceedings (liquidations) and those under chapter 13 (debt adjustments for individuals with regular incomes).
Bankruptcy planning by Fiore, Nicholas J. / Journal of Accountancy
 
 
 
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