This glossary includes terms that are frequently used when discussing the Chapter 11 reorganization process.

AUTOMATIC STAY
The filing of a Chapter 11 petition automatically triggers a halt or stay in the continued prosecution of pending lawsuits and the commencement of new lawsuits based on pre-filing conduct.

BANKRUPTCY CODE
The federal bankruptcy statute is commonly referred to as the Bankruptcy Code.

BANKRUPTCY COURT
A unit of the United States District Court (federal court) specializing in the handling of bankruptcy cases.

BANKRUPTCY PETITION
The legal instrument filed with the Bankruptcy Court that initiates a bankruptcy case.

BAR DATE
Statutes of the federal government and various states setting maximum time periods during which certain actions can be brought or rights enforced. After the time period set out in the applicable statute of limitations has run, no legal action can be brought regardless of whether any cause of action ever existed unless permitted by order of the court.

CLAIM
A right to payment, either fixed or not, contingent, liquidated, disputed or matured.

CLASS OF CREDITORS
A group of creditors entitled to similar treatment.

CREDITOR
A party, such as a supplier, bank lender or bondholder, to whom a debt is owed.

CREDITOR'S COMMITTEE
The Creditors' Committee is comprised of representatives of the unsecured creditors. This committee represents the unsecured creditors, consults with the debtor in possession, reviews and gathers information about the debtor in possession's activities and financial condition, and participates in the formulation and negotiation of a Chapter 11 plan of reorganization.

DEBTOR
A person or company who files a voluntary petition or against whom an involuntary petition is filed.

ESTATE
The estate of a company filing for bankruptcy protection includes all assets of the company, including those that are located outside the United States.

EXCLUSIVITY PERIOD
The 120-day period of exclusivity, after the filing of a Chapter 11 petition, during which time the debtor is the only party able to file a Chapter 11 reorganization plan. The exclusivity period may be extended or shortened by the court.

LIQUIDATING TRUST
The aggregate of all of the assets (including all causes of action) of the Debtor's Estate as of the effective date of the Plan of Reorganization.

LIQUIDATING TRUSTEE
The person appointed in accordance with the Liquidating Trust Agreement to administer the Liquidating Trust.

PETITION
The document that initiates a bankruptcy case. The filing of the petition constitutes an order for relief and institutes the automatic stay. Events are frequently described as "prepetition", happening before the bankruptcy petition was filed, and "post petition", after the bankruptcy.

PETITION DATE
Date on which the Debtor(s) filed for protection under the bankruptcy code.

PLAN
A plan setting forth a detailed description of how the debtor proposes to pay creditors' claims over a fixed period of time.

PROOF OF CLAIM
The form telling the bankruptcy court how much the debtor owed a creditor at the time the bankruptcy case was filed. This form must be filed with the Clerk of the Bankruptcy Court where the bankruptcy case was filed or with the court appointed claims agent.

REORGANIZED DEBTOR
The debtor company after it has confirmed a Chapter 11 reorganization plan and is no longer in Chapter 11.

SCHEDULES OF ASSETS AND LIABILITIES
Lists of assets and liabilities which every debtor is required to file with the court.

TRUST BENEFICIARIES
Holders of Claims (Creditors) who are entitled to receive distributions under the terms of the Plan.