bankruptcy

Definition
A proceeding in a federal court in which an insolvent debtor's assets are liquidated and the debtor is relieved of further liability. Chapter 7 of the Bankruptcy Reform Act deals with liquidation, while Chapter 11 deals with reorganization.




bankruptcy is ...
... part of the
Lending & Credit subject.


Related Terms

receivership -
Chapter 13 -  More
acceleration clause -  More
cash collateral, Chapter 10, cramdown, credit history, debtor in possession, debtor-in-possession financing, discharge of bankruptcy, economic indicator, executive indemnity insurance, financial leverage  and  


bankruptcy appears in the definitions of these other terms on BusinessDictionary.com

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