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Frauds and Scams > Chapter 7
The following information is about Chapter 7.
Chapter 7 Defined
A bankruptcy proceeding where a company stops all operations and goes completely out of business. A trustee is appointed to liquidate (sell) the company's assets and the money is used to pay off debt.
This definition is in context to Frauds and Scams. See more contextual defintions for Chapter 7.
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