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Today's Terms
Bankruptcy Amendments of 1984
Definition:
A set of amendments to the Bankruptcy Reform Act of 1978. It contains a number of provisions including: limiting the jurisdiction of the bankruptcy court.
Chapter Eleven
Definition:
Reorganization proceedings, generally for business entities; the debtor maintains control of the business in Chapter 11 (unless the Court appoints a trustee).
Debtor-in-possession
Definition:
The debtor which remains in control of operations; as opposed to having a trustee operate the company.
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