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Chapter 7
(redirected from Chapter 7, Title 11, United States Code)

    Also found in: Wikipedia, Hutchinson 0.02 sec.
Chapter 7
A bankruptcy option in which a bankrupt firm is liquidated after the courts have determined that reorganization is not worthwhile. A trustee is charged with liquidating all assets and distributing the proceeds to satisfy claims in their order of priority. In Chapter 7 bankruptcies the creditors often receive a fraction of the value of their claims and the stockholders receive nothing.


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