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Today's Terms
Chapter Eleven
Definition:
Reorganization proceedings, generally for business entities; the debtor maintains control of the business in Chapter 11 (unless the Court appoints a trustee).
Set-off
Definition:
The ability to discharge or reduce a debt by applying a counter claim between the same parties.
Reverse leveraged buyout
Definition:
When a company that was a leveraged buyout restructures its (usually unmanageable) debt by issuing new equity (usually in exchange for some or all of the outstanding debt incurred during the original leveraged buyout).
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