| 单词 | Chapter 11 |
| 释义 | Chapter 11 Chapter 11 (USA) part of the Bankruptcy Reform Act of 1978 that allows an alternative to liquidation under Chapter 7. The business is preserved as a going concern. There is usually no trustee, and the business may be conducted by a committee of creditors. The debtor is given 120 days to submit a plan for liquidation or reorganisation. For the UK process of administration, see ADMINISTRATOR. |
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