Bankruptcy at Legal Glossary What is it? A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts.
Bankruptcy
Related Category: Legal Terms and Concepts
in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations.
Bankruptcy Judge - The judge who determines whether a debtor is entitled to a discharge in bankruptcy.
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Bankruptcy Trustee definition:
An officer generally appointed by the court, who takes over the assets of a bankrupt to the benefit of creditors.
Also known as trustee in bankruptcy.
Bankruptcy Law: The area of federal law dealing with the handling of bankrupt persons or businesses.
Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors.
Bankruptcy
Where an insolvent person is made bankrupt by a court. A trustee in bankruptcy is appointed to distribute the bankrupt's assets amongst his creditors.
Bankruptcy Court
(n) Bankruptcy Court is legal authority who can hear and decide on petitions from persons or business entities requesting them to be declared as bankrupt when their liabilities exceeds the assets and properties owned by them and such ...
Bankruptcy
An order made under the Insolvency Act 1986 against an individual debtor (not a limited company) which signifies that he is unable to pay his debts and deprives him of his property which is distributed among his creditors.
BANKRUPTCY, CHAPTER 13 - A type of bankruptcy in which a person keeps his assets and pays creditors according to an approved plan.
Bankruptcy: A legal proceeding in which a person who is financially insolvent requests the federal bankruptcy court to determine his or her debts and use his or her assets to pay those debts.
Voluntary Bankruptcy: A proceeding by which a debtor voluntarily asks for a discharge of his debts under the Bankruptcy Code.
Bankruptcy Law
The legal method for a debtor to "discharge" or relieve debt.
Bankruptcy
The formal condition of an insolvent person being declared bankrupt under law.
Bankruptcy - Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start.
BANKRUPTCY
A legally declared inability of an individual or organization to pay their creditors. A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts.
Bankruptcy:
The state of being bankrupt.
Battery
Intentional physical contact that is harmful or offensive to the other person; the completion of an assault in tort law.
BANKRUPTCY: Insolvency; a process governed by federal law to help when people cannot or will not pay their debts.
BENCH TRIAL: Also called court trial. A trial held before a judge and without a jury.
bankruptcy Procedure in the federal courts (but not state courts), by which a person or business is relieved of certain debts.
bench warrant See warrant.
BANKRUPTCY. The state or condition of a bankrupt.
2. Bankrupt laws are an encroacbment upon the common law. The first in England was the stat. 34 and 35 H. VIII., c.
Bankruptcy - A legal proceeding where a person or business is relieved of paying certain debts.
Best evidence - Primary evidence; the best evidence which is available; any evidence falling short of this standard is secondary.
bankruptcy
A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts.
bankruptcy
n. a federal system of statutes and courts which permits persons ...
bankruptcy court
n. the specialized federal court in which bankruptcy matters unde...
4) In bankruptcy: filing under chapter 7 by a debtor whose monthly, disposable income exceeds $10,950 or 25% of his or her non-priority unsecured debt (if at least $6,575) for a five-year period is presumptively abusive, ...
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Consumer bankruptcy -A proceeding under the Bankruptcy Code filed by an individual (or husband and wife) who is not in business.
Contempt of court -Willful disobedience of a judge's command or of an official court order.
Involuntary bankruptcy - A proceeding initiated by creditors requesting the bankruptcy court to place a debtor in liquidation.
Alternatives to Bankruptcy
the area of law that focuses on debtor assistance other than Bankruptcy (see bankruptcy).
This term is often used in bankruptcy proceedings where creditors are said to be "pari passu" which means that they are all equal and that distribution of the assets will occur without preference between them.
a bankruptcy court, has entered an order staying the proceedings. The relief from stay order is obtained by filing a motion for relief from stay.
Pari passu: (Latin: with equal step) Often used in bankruptcy proceedings where creditors are said to rank pari passu, which means the assets are distributed without preference between them.
In Bankruptcy, the term refers to an order of the court declaring that the debtor is bankrupt.
Adjuster - A person who is employed to investigate and effect collection and settlement on an account.
Ad litem - Latin: for the suit.
Balance of Probabilities(see Burden of Proof)BankruptInsolvent and involved in a proceeding to become bankrupt or against whom a creditor has started a proceeding to put them into bankruptcy.
They are extensively used in bankruptcy practice, in the administration of the revenue and in the inferior and county courts.
in one of three ways: over acts committed in a defined territory (eg. the jurisdiction of the Supreme Court of Australia is limited to acts committed or originating in Australia), over certain types of cases (the jurisdiction of a bankruptcy court is ...
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a defined territory (e.g.. the jurisdiction of the UK courts is limited to acts committed or originating in the UK unless conventions existed to extend the jurisdiction, e.g. in the EU), over certain types of cases (the jurisdiction of a bankruptcy ...
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Secured Debt: In bankruptcy proceedings, a debt is secured if the debtor gave the creditor a right to repossess the property or goods used as collateral.
The rules for the conduct of a lawsuit; there are rules of civil, criminal, evidence, bankruptcy, and appellate procedure.
Prosecute
To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
United States Court of Appeals: Courts which hear appeals from federal district courts, bankruptcy courts, and tax courts.
Bankruptcy is a proceeding of an equitable nature - a sequestration of a debtor's property that the creditors may resort to, instead of an ordinary suit at law or in equity. Re Weitzel, 7 Biss 290 (1876).
Adversary proceeding - One having opposing parties such as a plaintiff and a defendant. Individual lawsuit(s) brought within a bankruptcy proceeding.
Recent court report that indicates 86% of order of protections were awarded to females and 7% of these petitions were denied in the same forty-six month period
Government banking report linking divorce to bankruptcy
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No minimum amount in controversy is required. State courts may also hear federal question cases except where federal jurisdiction is exclusive, e.g., bankruptcy, patent cases, admiralty, and a few other areas, ...
In the House of Lords the following rules disqualify a Peer from taking his or her seat: those under 21 years of age; people born outside of England, Scotland, Ireland or specific overseas countries; those convicted of treason; and bankruptcy.
 See also: Bankrupt, Law, Attorney, Attorn, Lawyer
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