MLchartDataset catalogue

Chapter 12 bankruptcy

Term · Law · MLC-T-LAW-000930

A specific type of bankruptcy proceeding under the United States Bankruptcy Code designed exclusively for family farmers and family fishermen with regular annual income. It allows these debtors to reorganize their finances and propose a repayment plan to creditors over three to five years. This chapter offers more flexible terms than Chapter 13 for agricultural and fishing operations.

Table 1. Record
IdentifierMLC-T-LAW-000930
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-000930",
  "term": "Chapter 12 bankruptcy",
  "field": "Law",
  "definition": "A specific type of bankruptcy proceeding under the United States Bankruptcy Code designed exclusively for family farmers and family fishermen with regular annual income. It allows these debtors to reorganize their finances and propose a repayment plan to creditors over three to five years. This chapter offers more flexible terms than Chapter 13 for agricultural and fishing operations.",
  "url": "https://mlchart.com/terminology/law/chapter-12-bankruptcy/"
}

Record 745 of 5,445 in Law terminology (MLC-0107). Request the full dataset.