|
Today's Terms
Asset
Definition:
An economic resource or item owned by a business that is expected to benefit its future operations.
Bankruptcy Court
Definition:
The federal tribunal where cases under the Bankruptcy Code are litigated.
Exclusivity (period of)
Definition:
A debtor in Chapter 11 has the exclusive right to file a plan of reorganization for the first 120 days of its bankruptcy. Thereafter, unless the period of exclusivity is extended by the court, other parties may file reorganization plans.
More Bankruptcy Terms >
|