Chapter X proceeding
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 406 U.S. 416 - Caplin v. Marine Midland Grace Trust Co. of New York · 1972Most cited · 996 citing opinions
a Chapter X proceeding is for purposes of rehabilitating the corporation and reorganizing it. Chapter X proceedings are not limited to insolvent corporations but are open to those corporations that are solvent in the bankruptcy (asset-liability) sense but are unable to meet their obligations as they mature