A provision of the U.S. bankruptcy law which enables a failing firm to apply to the courts for protection against all creditors while it is reorganized to pay its debts. This provision enables a firm to avoid being closed down by any single creditor and gives investors a chance to decide whether the firm can again be made profitable. At the same time, it gives dishonest management the opportunity to loot the firm’s assets while the case is before the courts.
- Chapter 7
noun (US) the statute regarding liquidation proceedings that empowers a court to appoint a trustee to operate a failing business to prevent further loss
any specific chapter and verse of the Bible, as used when citing the text. full, cited authority, as for any quotation, opinion, action, etc.: Give me chapter and verse for the information you’ve provided so far. Informal. detailed information. a set of regulations or rules. The means of locating passages in the Bible. Thus Matthew […]
printed material appearing before and usually above the text of a chapter, as a title, number, quotation, etc.
Ecclesiastical. a building attached to or a hall forming part of a cathedral or monastery, used as a meeting place for the chapter. a building used by a chapter of a society, fraternity, sorority, etc.