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Today's Terms
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.
Bankrupt
Definition:
The entity that files a bankruptcy; the debtor; the insolvent entity. This is a non-technical term and is not used in the Bankruptcy Code.
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