|
Today's Terms
Core proceedings
Definition:
Those proceedings that are inherent in and fundamental to the administration of a bankruptcy case.
Default
Definition:
The failure by an entity to abide by the covenants in a debt obligation or other agreement to which it is a party. The most common default is non-payment of interest or principal.
Chapter Ten
Definition:
A new chapter of the bankruptcy code proposed in 1992 and pending in 1993. Chapter 10, like Chapter XI of the old code, is designed for small business reorganizations.
More Bankruptcy Terms >
|