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Creditors' Committee
A group of representatives from a bankrupt company's unsecured creditors involved in the bankruptcy proceedings to protect their interests.
Unsecured Creditors
are creditors whose claims are not protected by a lien on specific assets of the debtor, making them more vulnerable in bankruptcy proceedings.
Chapter 11
A provision of the United States Bankruptcy Code that provides for reorganization, typically involving a corporation or partnership.
Order For Relief
A court’s grant of assistance to a complainant. In bankruptcy proceedings, the order relieves the debtor of the immediate obligation to pay the debts listed in the bankruptcy petition.
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