Legal bankruptcy

Legal bankruptcy
Definition: [crh] A legal proceeding for liquidating or reorganizating a business.

Legal bankruptcy
A legal proceeding for liquidating or reorganizing a business.
Legal defeasance ...

There are two kinds of legal bankruptcy under U.S. law: involuntary, when one or more creditors petition to have a debtor judged insolvent by a court; and voluntary, when the debtor brings the petition.

Value at which a company's shares are recorded in its books.
Legal bankruptcy
A legal proceeding for liquidating or reorganizing a business.
Legal defeasance ...

The condition of a business when liabilities (excluding ownership equity) are greater than Assets. In other words, a business can't pay it's debts. This is a first step on the road to bankruptcy, but it doesn't guarantee that legal bankruptcy ...

See also: Reorg, Banks, Mergers, Line of credit, Loan syndication