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Today's Terms
Period of exclusivity
Definition:
Personal bankruptcy - filed by an individual; also called a household bankruptcy, consumer bankruptcy or wage-earner bankruptcy. (see Chapter 13 and also Chapter 12).
Liquidating reorganization
Definition:
An informal term for a Chapter 11 proceeding when the company is essentially liquidated through one or more asset sales.
Chapter Twenty
Definition:
An unofficial term describing the filing of a Chapter 7 proceeding followed by a Chapter 13.
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