Chapter 10

(redirected from Chapter 10 Bankruptcy)

Chapter 10

A chapter of the U.S. bankruptcy code stating the terms under which a small company may file for bankruptcy protection while it prepares a reorganization plan. In order to be eligible for Chapter 10 protection, the company cannot have more than $2.5 million in debt and the reorganization plan must include provisions where the debt will be repaid within three years. See also: Chapter 7, Chapter 11, Chapter 13.
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In In re Continental Vending Machine Corporation, DC NY, 11/19/76, a taxpayer in a Chapter 10 bankruptcy proceeding claimed deductions for interest on debt to both its secured and unsecured creditors.