Examlex
A secured bond is enforceable by a lien upon specific property rather than against the general assets of the corporation.
Reorganization
The process of restructuring a company's legal, ownership, operational, or other structures, often while under financial distress.
Debts
money that is owed or due to individuals, organizations, or governments.
Bankruptcy
A legal proceeding involving a person or business that is unable to repay their outstanding debts, leading to the distribution of non-exempt assets to creditors.
Chapter 13 Bankruptcy
A type of bankruptcy that allows individuals with a regular income to develop a plan to repay all or part of their debts under court supervision.
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