### Question
How does the law define liquidation proceeding?


### Answer
Under *15 U.S.C. § 78lll*, **liquidation proceeding** is defined as:

> any proceeding for the liquidation of a debtor under this chapter in which a trustee has been appointed under section 78eee(b)(3) of this title

#### Citation:
  - *15 U.S.C. § 78lll*
  - Heading: **CHAPTER 2B&ndash;1-SECURITIES INVESTOR PROTECTION**

