| 3. | chapter 11 | ||
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To go bankrupt, to lose all money. K-Mart is going to chapter 11 if they keep selling low quality products.
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| 1. | Chapter 11 | ||
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Contrary to pouplar belief, Chapter 11 is not bankruptcy... It is Bankruptcy PROTECTION. Companies file Chapter 11 in order to restructure while protecting themselves from being liquidated by creditors.
Chapter 7 is liquidation with a cessation of all business activities. US Airways Filed for Chapter 11 again. If the judge doesn't cancel the employee contracts, they'll be in Chapter 7 soon.
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| 2. | Chapter 11 | ||
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An essential chapter to avoid bankruptcy; also used to describe a bankruptcy lawyer's genitals. Yeah so I was having this Chester guy handle my chapter 11 cause im in serious debt, but it turns out the whole time he was feeling his own chapter 11. Never trust a Salomon
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