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BANKRUPTCY CHAPTER 11

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

Also referred to as business bankruptcy. This proceeding involves a business reorganization. The court (typically through a bankruptcy trustee) will review, approve and supervise the implementation of a business reorganization plan for an insolvent business to delay and create a payment plan for current debtors while allowing the business to exist and begin growth of revenue through ongoing business operations.

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