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LSDefine

Simple English definitions for legal terms

Chapter 22

Read a random definition: latecomer

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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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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