Chapter 7

noun [U]

Definition

› LAW, FINANCE a part of the US law dealing with bankruptcy in which a person or company's property may be taken by a court and sold in order to pay back debts to the creditors (= the people who are owed money): They filed for Chapter 7 bankruptcy. A Chapter 7 bankruptcy case does not involve filing a plan of repayment, as is the case with Chapter 13.

(Definition of Chapter 7 noun from the Cambridge Business English Dictionary © Cambridge University Press)

Focus on the pronunciation of Chapter 7