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Today's Terms
Chapter Nine
Definition:
Bankruptcies of municipalities; only a few of these are filed each year; over the period 1980 through 1988 there averaged about 4 Chapter 9 filings per year.
Secured creditors
Definition:
One of two general types of creditors of a company. Secured creditors have a lien on property of the company.
Chapter Twenty Two
Definition:
An unofficial term describing a company that has filed for Chapter 11 twice.
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