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Today's Terms
Avoidance power
Definition:
The power of the court to invalidate certain obligations or transactions undertaken by a debtor prior to filing bankruptcy.
Chapter Twenty Two
Definition:
An unofficial term describing a company that has filed for Chapter 11 twice.
Substantive consolidation
Definition:
The combination of the estate of one debtor with the estate of one or more other debtors and the application of the combined estate to satisfy their combined liabilities.
More Bankruptcy Terms >
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