FT Professional Glossary
Chapter 11 Bankruptcy
In the US, a section of the law dealing with bankruptcy (= being unable to pay debts), that allows companies to stop paying their debts in the normal way while they try to find a solution to their financial problems
Example usage from an FT article:
Restructuring specialists have historically made the bulk of their fees helping companies or hedge fund creditor groups through the Chapter 11 bankruptcy process.
Excerpt from "Higher rates boost bankers to troubled companies"
