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LSDefine

Simple English definitions for legal terms

Chapter 11

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A quick definition of Chapter 11:

Chapter 11 is a part of the law in the United States that helps businesses that are in trouble. It allows them to change the way they owe money to people they owe money to, with the help of a court. This helps the business keep going while they make changes to get better. Most of the time, it is used by businesses, but sometimes people can use it too.

A more thorough explanation:

Chapter 11 is a section of the United States Bankruptcy Code that allows a business that is insolvent or at risk of insolvency to restructure its finances under court supervision while continuing its normal operations. This process is subject to creditor approval.

Although individuals can also use Chapter 11, it is mostly used by businesses. The goal of Chapter 11 is to help businesses get back on their feet financially and avoid liquidation.

  • A struggling retail chain files for Chapter 11 bankruptcy to restructure its debt and operations while continuing to operate its stores.
  • A manufacturing company that is facing financial difficulties uses Chapter 11 to renegotiate its contracts with suppliers and creditors.

These examples illustrate how Chapter 11 can help businesses reorganize their finances and operations to become financially stable again. By using Chapter 11, businesses can avoid liquidation and continue to operate, which can benefit both the business and its creditors.

Chapter 9 | Chapter 12

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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