chapter 7

(redirected from Chapter 7 Proceedings)
Also found in: Legal, Financial.

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)]
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
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).
Full browser ?