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Today's Terms
Period of exclusivity
Definition:
Personal bankruptcy - filed by an individual; also called a household bankruptcy, consumer bankruptcy or wage-earner bankruptcy. (see Chapter 13 and also Chapter 12).
Cash collateral
Definition:
Cash and cash equivalents held by the debtor in Chapter 11 subject to liens of other parties.
Liquidation value
Definition:
The aggregate value of a business if its assets are sold piecemeal.
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