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Today's Terms
Debtor
Definition:
The entity seeking protection from creditors under the bankruptcy laws.
Chapter Thirty Three
Definition:
An unofficial term describing a company that has filed for Chapter 11 three times.
Post-petition
Definition:
Occurring after the filing of a petition. Preference - a payment by a debtor made during a specified period (90 days or one year) prior to the filing that favors one creditor over others.
More Bankruptcy Terms >
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