|
Today's Terms
Bankruptcy Court
Definition:
The federal tribunal where cases under the Bankruptcy Code are litigated.
Liquidating reorganization
Definition:
An informal term for a Chapter 11 proceeding when the company is essentially liquidated through one or more asset sales.
Absolute priority
Definition:
The order of payment to the different classes of creditors mandated by the Bankruptcy Code. In theory, claims with higher priority are paid in full before other claims receive anything
More Bankruptcy Terms >
|