Chapter 11

米国スポーツメーカーの 「プリンス・スポーツ」は米国連邦破産法11条（日本の民事再生法に相当 ）の適用をデラウェア地区の連邦破産裁判所に申請しました。

短大教員時代にテニス・スクールに通い詰め、同社のブランドだったデカラケで日本支社が主催するプリンスカップにも出場したこともあり、かつては愛着のあるメーカーでした。

Prince, which sells its products through brands like "Ektelon" and "Viking Athletics," listed assets in the $50 million to $100 million range and said it owes $65 million in secured debt to ABG-Prince LLC and about $10.2 million in trade debt to its vendors.
The company, which filed for Chapter 11 protection, expects to be owned by ABG-Prince, which holds much of its debt. ABG-Prince will cancel the secured debt in exchange for 100 percent new equity in the reorganized company, Prince said in its bankruptcy filing.
Prince will have to seek approval from the bankruptcy court regarding all its plans.
The company said it will use the bankruptcy process to develop a more competitive business model.
"We anticipate to emerge from this period as a more efficient, performance racquet sports brand with a more competitive model in the market, while eliminating the economic constraints that have prohibited the brand from achieving its potential," chief executive Gordon Boggis said in a statement.

Chapter 11は「米国破産法第11章」のことで、日本の会社更生法に相当する法律です。プリンスは会社更生計画のもと、負債者の承認を得て会社を立ち直させる道を選んだようです。対してChapter 7は会社を清算し、完全にたたむことを意味します。

ちなみにこのchapterの数字から、大手コンビニのSeven-Elevenは俗語で「（経済的に）負け犬、負け組」という意味に使われることもあります。いい迷惑ですね。（UG）

Seven-Eleven
Someone who has ruined their reputation to the point of being socially "bankrupt." Hence chapter 7 and 11 bankruptcy.
Lindsay: You're fucking fat!
Dan: Shup up bitch! You and your sister hit bankruptcy years ago!!
Dan: Ya'll hoes are Seven-Eleven!! （Urban Dictionary）

http://in.reuters.com/article/2012/05/01/princesports-bankruptcy-idINDEE8400B720120501