What’s Chapter 9?

Chapter 9 of the US Bankruptcy Code helps municipalities settle debts, protecting them from lawsuits and judgments. Eligible municipalities include counties and school districts controlled by the state. Bankruptcy courts have limited power and cannot interfere with a municipality’s property or income. Creditors are restricted and cannot offer competing plans. The bankruptcy court’s role is […]

What is Chapter 15 in bankruptcy?

Chapter 15 bankruptcy is a US law that helps foreign debtors with domestic debt. It streamlines the process for US lenders’ rights in foreign courts, foreign lenders’ rights in US courts, and debtors’ rights in US courts. Debtors file for bankruptcy in their home country first, and filing in the US is considered a secondary […]

What’s “Chapter and verses” mean?

The idiom “chapter and verse” originated in the 1600s when the Bible was the authority on all matters. It means to back up a statement with precise facts and details, citing an authoritative reference. The phrase is now used to describe someone’s expert knowledge on a subject and where the authority supporting that knowledge is […]

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