bankruptcy, Chapter 12
n.
A proceeding to allow for family farmers and fisherman to create a repayment plan to pay off debts over a specified period of time while being supervised by the court.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

Look at other dictionaries:

  • Chapter 12 — family farmer bankruptcies. This was created by Congress in 1986 (Chapter 12 became effective on November 26, 1986). Only a family owned farm business can qualify for Chapter 12 and it must have debt less than $1.5 million and have 50% of its… …   Glossary of Bankruptcy

  • Chapter 12 — n: chapter 12 of the U.S. Bankruptcy Code see also bankruptcy code in the important laws section Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

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  • Chapter 12 bankruptcy — A type of bankruptcy that allows small farmers to reorganize their debts. Category: Bankruptcy, Foreclosure & Debt → Bankruptcy Nolo’s Plain English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009 …   Law dictionary

  • Chapter 12 — A U.S. bankruptcy proceeding specifically for family farms or fisheries that gives the farm or fishery owner the ability to reorganize his or her finances and debts while still keeping the farm or fishery. The farm or fishery owner will work with …   Investment dictionary

  • Chapter 12 (farmer) bankruptcy — See bankruptcy proceedings (family farmer bankruptcy) …   Black's law dictionary

  • Chapter 12 (farmer) bankruptcy — See bankruptcy proceedings (family farmer bankruptcy) …   Black's law dictionary

  • bankruptcy trustee — A private individual or corporation appointed in all chapter 7, chapter 12, and chapter 13 cases to represent the interests of the bankruptcy estate and the debtor s creditors (SA Bankruptcy.com) A private individual or corporation appointed in… …   Glossary of Bankruptcy

  • chapter — the Bankruptcy Code is organized into Chapters. Except for Chapter 12, the Chapters of the present code are all odd numbered and are enumerated with Arabic numerals. (Before the Bankruptcy Reform Act of 1978, the Chapters were numbered with Roman …   Glossary of Bankruptcy

  • bankruptcy proceedings — General term for the various types of proceedings under the Bankruptcy Code (11 U.S.C.A.) that are initiated either by an insolvent individual or business (termed a voluntary bankruptcy) or by creditors (termed an involuntary bankruptcy) seeking… …   Black's law dictionary

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