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Chapter 11
noun
a section of the Bankruptcy Code that provides for the reorganization of an insolvent corporation under court supervision and can establish a schedule for the payment of debts and, in some cases, a new corporation that can continue to do business.
chapter 11
noun
the statute regarding the reorganization of a failing business empowering a court to allow the debtors to remain in control of the business to attempt to save it
they are in chapter 11
51Թ History and Origins
Origin of chapter 111
Example Sentences
Merit Street’s Chapter 11 bankruptcy filing lists the company’s liabilities at $100 million to $500 million.
Though diocese officials have said they also do not expect an impact at Catholic cemeteries, those properties have been listed in the Chapter 11 filing.
Once valued at $6 billion, 23andMe filed for Chapter 11 bankruptcy in March.
LL Flooring, the flooring retailer formerly known as Lumber Liquidators, filed for Chapter 11 bankruptcy protection last August and announced that it would close about a quarter of its locations nationwide.
At Home, the home goods retailer, has filed for Chapter 11 bankruptcy protection and announced the closure of 26 stores, as it tries to recover from a slowdown in sales and the impacts of inflation and tariffs.
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