• Chapter 7, known as straight or liquidation bankruptcy, of Title 11 in the U.S. bankruptcy code, controls the process of asset liquidation.


    Chapter 7 meaning & definition 1 of Chapter 7.


  • a part of the US law dealing with bankruptcy in which a person or companys property may be taken by a court and sold in order to pay back debts to the creditors (= the people who are owed money) :

    Chapter 7 meaning & definition 2 of Chapter 7.

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