Chapter 11

Definition of "Chapter 11"

Linda Cessac
Linda Cessac Better Homes & Gardens Gary Greene

Used primarily by real estate corporations as a means of restructuring and reorganizing existing debts. Creditors must vote on a debt-paying plan and a judge must give approval. It provides protection for individual debtors with debts to large for a Chapter 13 filing. See also wage earner plan (chapter 13).

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