voluntary bankruptcy

The legal proceeding that follows a petition of bankruptcy. Bloomberg Financial Dictionary

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voluntary bankruptcy voluntary bankruptcy bankruptcy

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voluntary bankruptcy UK US noun [C or U] FINANCE, LAW
a situation in which a business or a person becomes unable to pay their debts, and asks to be made officially bankrupt: »

The company went into a voluntary bankruptcy in August.

Financial and business terms. 2012.

Look at other dictionaries:

  • voluntary bankruptcy — bankruptcy filed by the debtor itself; data from the U.S. Administrative Office of the Courts subdivides bankruptcies into voluntary and involuntary (Glossary of Common Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • voluntary bankruptcy — n: bankruptcy declared upon petition of the debtor see also bankruptcy Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. voluntary bankruptcy …   Law dictionary

  • Voluntary Bankruptcy — A type of bankruptcy where an insolvent debtor brings the petition to a court to declare bankruptcy because he or she (in the case of an individual) or it (in the case of a business entity) is unable to pay off debts. The bankruptcy is intended… …   Investment dictionary

  • voluntary bankruptcy — Bankruptcy instituted by an adjudication upon the petition of a debtor seeking such an adjudication. 9 Am J2d Bankr § 175 …   Ballentine's law dictionary

  • voluntary bankruptcy — declaration of bankruptcy according to the request of the person in debt …   English contemporary dictionary

  • voluntary bankruptcy — Gen Mgt see bankruptcy …   The ultimate business dictionary

  • voluntary bankruptcy — noun : a bankruptcy declared upon petition of the bankrupt …   Useful english dictionary

  • voluntary case — A voluntary bankruptcy proceeding. also see involuntary case (Bernstein s Dictionary of Bankruptcy Terminology) United Glossary of Bankruptcy Terms 2012. voluntary case …   Glossary of Bankruptcy

  • voluntary transfer — A transfer of a debtor s property with the debtor s consent. (BankruptcyAction.com) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • bankruptcy — bank·rupt·cy / baŋ ˌkrəp sē/ n pl cies 1: the quality or state of a bankrupt filed for bankruptcy 2: the administration of an insolvent debtor s property by the court for the benefit of the debtor s creditors the debt was discharged in bankruptcy …   Law dictionary

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