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Chapter 7 Petition
A legal request filed in a bankruptcy court for relief under Chapter 7 of the United States Bankruptcy Code, resulting in liquidation of a debtor's assets.
Trustee
An individual or organization appointed to manage and administer property or assets on behalf of others, often in the context of a trust or bankruptcy.
Debtor
An individual or entity that owes money to another entity or individual.
Debtor in Possession
A business entity that retains control of its assets and continues operations while undergoing a reorganization under bankruptcy laws.
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