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Today's Terms
Asset
Definition:
An economic resource or item owned by a business that is expected to benefit its future operations.
Reorganization
Definition:
The resolving of a Chapter 11 bankruptcy by the emergence of the debtor as a viable business. Generally, the company agrees with creditors on a plan for payment of their claims (plan of reorganization) and emerges from Chapter 11 after the plan is confirmed by the court.
Core proceedings
Definition:
Those proceedings that are inherent in and fundamental to the administration of a bankruptcy case.
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