Top definition
As opposed to Section 11, if you file for Section 12 bankrupcy, and you're successful, it means the Fed will bail you out.
AIG were succesful in their bid for Section 12 Bankruptcy, whereas Lehmann Bros were allowed to go under.
by Seanoooog September 17, 2008
Mug icon

The Urban Dictionary Mug

One side has the word, one side has the definition. Microwave and dishwasher safe. Lotsa space for your liquids.

Buy the mug