chapter 7

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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
[C20: from chapter 7 of the Bankruptcy Reform Act (1978)]
References in periodicals archive ?
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).
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