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(law) In a bankruptcy proceeding, the proportional reduction in the debt that will be paid to each creditor, based on an evaluation of the total debt owed and the total assets of the debtor.
From hair + cut
A short, balding man, who looked as if a haircut was more a social event than a necessity, rose to leave, and with a glance at the back room said, "Ol' Ralph always was a bit weird."
He's gotten a haircut and almost looked normal.
One of the band members had this bowl haircut.
She stood with a tall, good-looking man with a rounded haircut that might have been stylish somewhere but to Dean looked silly.
Learn how to dye your hair and give your kids a simple haircut.
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