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LSDefine

Simple English definitions for legal terms

Chapter 22

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A quick definition of Chapter 22:

Chapter 22: When a company or organization files for bankruptcy for the second time after a previous attempt failed because they are unable to pay their debts or are at risk of not being able to pay their debts again.

A more thorough explanation:

Definition: Chapter 22 is a slang term used to describe a situation where a debtor, usually a corporation, files for bankruptcy for the second time shortly after a previous bankruptcy filing has failed. This happens because the debtor has become insolvent again or is threatened with insolvency once more.

Example: ABC Corporation filed for Chapter 11 bankruptcy in 2018 but failed to restructure its debts and emerge from bankruptcy. In 2019, ABC Corporation filed for bankruptcy again, which is known as Chapter 22 bankruptcy.

Explanation: The example illustrates how a corporation can file for bankruptcy twice, with the second filing being referred to as Chapter 22. In this case, ABC Corporation was unable to successfully restructure its debts and become financially stable after its first bankruptcy filing, leading to a second filing.

Chapter 20 | chapter-surfing

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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
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
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