Citation Corp. emerges from Chapter 11 protection.Eight months after filing for financial protection, Citation citation n. 1) a notice to appear in court due to the probable commission of a minor crime such as a traffic violation, failure to keep a dog on a leash, drinking liquor in a park where prohibited, letting a dog loose without a leash, and in some states for possession of a small amount of marijuana. Failure to appear can result in a warrant for the citee's arrest. Corp., Birmingham, Ala., exited Chapter 11 bankruptcy in May. At the time of its filing, Citation had a total debt of $550 million in secured loans, letters of credit and trade credit Trade credit Credit one firm grants to another firm for the purchase of goods or services.. Citation's reorganization plan reduces the company's bank debt to $180 million and total debt to $210 million. The firm also emerges from bankruptcy with a new $80 million line of credit, $50 million of which remains available.
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