Synonyms

Chapter 11

American

Or Chapter Eleven,

noun

U.S. Law.

a section of the Bankruptcy Code that provides for the reorganization of an insolvent corporation under court supervision and can establish a schedule for the payment of debts and, in some cases, a new corporation that can continue to do business.

chapter 11 British

noun

the statute regarding the reorganization of a failing business empowering a court to allow the debtors to remain in control of the business to attempt to save it

they are in chapter 11

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Etymology

Origin of chapter 11

C20: from chapter 11 of the Bankruptcy Reform Act (1978)

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

On Aug. 4, the operating company behind the Mirage filed for chapter 11 bankruptcy protection, citing a failed renovation as the main cause of the club’s financial woes.

From The Wall Street Journal

Spirit would emerge from Chapter 11 in late spring or early summer “as a strong low-cost, value-driven carrier offering guests basic and premium products at the lowest fares in the sky,” the company said.

From MarketWatch

It expects to reduce its debt and lease obligations to about $2.1 billion postbankruptcy, from $7.4 billion before the Chapter 11 filing.

From MarketWatch

Spirit returned to bankruptcy court in August, less than a year after a previous chapter 11 restructuring failed to solve financial challenges posed by its no-frills business model.

From The Wall Street Journal

The discount airline is set to tell a bankruptcy judge Tuesday that its deal with lenders will allow it to exit from the chapter 11 proceedings with a stronger balance sheet and a reduced fleet size.

From The Wall Street Journal

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023