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Finance Dictionary and Glossary of Investment Terms
1. A situation in which venture capitalists refuse to invest in a new project unless the preceding investors of the company lower the value of their original investment. 2. A bankruptcy procedure that allows a bankruptcy court to initiate a reorganization plan for a company despite objections from creditors. The creditors will still maintain collateral on the company as long as the firm offers repayment of the "secured portion" or fair market value of the collateral in their repayment plan.