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Today's Terms
Liquidating reorganization
Definition:
An informal term for a Chapter 11 proceeding when the company is essentially liquidated through one or more asset sales.
Chapter Thirty Three
Definition:
An unofficial term describing a company that has filed for Chapter 11 three times.
Secured creditors
Definition:
One of two general types of creditors of a company. Secured creditors have a lien on property of the company.
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