Look up: Bankruptcy

1. 
   Bankruptcy
   State of being unable to pay debts. Thus, the ownership of the firm's assets is transferred from the stockholders to the bondholders.
   Found on http://www.nytimes.com/library/financial
   
   
2. 
   Bankruptcy
   Anyone can go bankrupt, including individual members of a partnership. There are different procedures for dealing with companies and for partnerships themselves. When a bankruptcy order has been made you must:
   -provide the Official Receiver with a full list of your assets and details of what you owe and to whom;
   -look after and then hand over your assets to the Official Receiver together with all your books, records, bank statements, insurance policies and other papers relating to your property and financial affairs
   -tell your trustee about assets and increases in income you obtain during your bankruptcy. (Note: you are legally obliged to inform your trustee of any property which becomes yours during the bankruptcy. Such property includes lump sum cash payments that you may receive, for example redundancy payments or money left in a will);
   -stop using your bank, building society, credit card and similar accounts straightaway
   -not obtain credit of £250 or more from any person without first disclosing the fact that you are bankrupt.
   -not make payments direct to your creditors. You may also have to go to court and explain why you are in debt. If you do not co-operate, you could be arrested.
   Found on http://www.moneynet.co.uk/glossary/
   
   
3. 
   bankruptcy
   [n] - a state of complete lack of some abstract property 2. [n] - inability to discharge all your debts as they come due 3. [n] - a legal process intended to insure equality among the creditors of a corporation declared in bankruptcy
   Found on http://www.webdictionary.co.uk/definitio
   
   
4. 
   Bankruptcy
   Bankruptcy is legal procedure for dealing with debts when you cannot pay.
   Found on http://www.cccs.co.uk/glossary/glossary.
   
   
5. 
   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. As a result of bankruptcy sbankrupt cannot trade or act as a company director.
   Found on http://www.clickdocs.co.uk/glossary/bank
   
   
6. 
   Bankruptcy
   A person is declared bankrupt by a Court which may happen at his own request or as a result of action taken by a creditor. A receiver will be appointed and assets be realised as effectively as possible.
   Found on http://www.payontime.co.uk/collect/colle
   
   
7. 
   Bankruptcy
   This occurs when a person or a company is declared legally insolvent
   Found on http://www.adverse-mortgage-centre.co.uk
   
   
8. 
   Bankruptcy
   In bankruptcy, the court is officially responsible for making a bankruptcy order against an individual. This is on the petition of a creditor on the grounds of insolvency, the individual themselves, by the supervisor of a failed individual voluntary arrangement or by the Secretary of State.
   Found on http://www.cranfieldbusinessrecovery.co.
   
   
9. 
   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. Anyone owed £750 or more can file a bankruptcy petition at the High Court or the county court to declare the person bankrupt. The person who owes the debt can also apply to declare themselves bankrup...
   Found on http://www.compactlaw.co.uk/legal_glossa
   
   
10. 
    Bankruptcy
    This is an option a person may use if they do not pay their debts as and when they become due. They would lose control of their assets and would not be allowed to become a company director for the period of bankruptcy. Other occupations are also affected by bankruptcy and we recommend that you read your employment contract. Bankruptcy will also affect your credit rating.
    Found on http://www.wilsonfield.co.uk/individual/
    
    
11. 
    Bankruptcy
    A situation where an individual is incapable of settling his/her debts and has been served a... <a target=_blank href='http://www.finance-glossary.com/terms/bankruptcy.htm?id=121&ginPtrCode=00000&PopupMode=false' title='Read full definition of bankruptcy'>more</a>
    Found on http://www.finance-glossary.com/pages/ho
    
    
12. 
    Bankruptcy
    A person who is insolvent (unable to pay their debts) can be declared bankrupt. This means their assets and income become, for a period, by a trustee who attempts to clear what debts they can....more on Bankruptcy
    Found on http://moneyterms.co.uk/
    
    
13. 
    bankruptcy
    Process by which the property of an individual or organization unable to pay debts is taken away under a court order and divided fairly among the person's creditors, after preferential payments such...
    Found on http://www.thehistorychannel.co.uk/site/
    
    
14. 
    bankruptcy
    the state of a person or company which declares itself or has been declared by court not to be capable of paying its debts and whose affairs are put into the hands of a receiver Category: Law
    Found on http://www.mijnwoordenboek.nl/definition
    
    
15. 
    Bankruptcy
    the formal recognition that a person cannot pay their debts as they are due. Note this only applies to individuals, companies and partnerships that become insolvent are wound up.
    Found on http://www.businessballs.com/businesscon
    
    
16. 
    Bankruptcy
    Is an action that is filed in a federal bankruptcy court allowing a creditor to reorganize or discharge their credit obligations due to insolvency. A property owner may restrain foreclosure action by filing bankruptcy.
    Found on http://www.understandingforeclosure.info
    
    
17. 
    Bankruptcy
    Bank'rupt·cy noun ; plural Bankruptcies 1. The state of being actually or legally bankrupt. 2. The act or process of becoming a bankrupt. 3. Complete loss; -- followed by of .
    Found on http://www.encyclo.co.uk/webster/B/12
    
    
18. 
    bankruptcy
    The state of legal insolvency with assets taken over by judicial process so that they may be distributed among creditors. ... (12 Dec 1998) ...
    Found on http://www.mondofacto.com/facts/dictiona
    
    
19. 
    bankruptcy
    noun a legal process intended to insure equality among the creditors of a corporation declared to be insolvent
    Found on http://wordnet.princeton.edu/perl/webwn?
    
    
20. 
    bankruptcy
    noun inability to discharge all your debts as they come due; `the company had to declare bankruptcy`; `fraudulent loans led to the failure of many banks`
    Found on http://wordnet.princeton.edu/perl/webwn?
    
    
21. 
    Bankruptcy
    `Bankruptcy` is a legally declared inability or impairment of ability of an individual or organizations to pay their creditors. Creditors may file a bankruptcy petition against a debtor (`involuntary bankruptcy`) in an effort to recoup a portion of what they are owed. In the majority of cases, however, bankruptcy is initiated by the debtor (a `voluntary bankruptcy` that is filed by the `bankrupt` individual or organization).
    Found on http://en.wikipedia.org/wiki/Bankruptcy
    
    
22. 
    Bankruptcy
    Inability to pay debts. In bankruptcy of a publicly owned entity, the ownership of the firm`s assets is transferred from the stockholders to the bondholders.
    Found on http://www.duke.edu/~charvey/Classes/wpg
    
    
23. 
    Bankruptcy
    • (n.) The state of being actually or legally bankrupt. • (n.) Complete loss; -- followed by of. • (n.) The act or process of becoming a bankrupt.
    Found on http://thinkexist.com/dictionary/meaning
    
    
24. 
    bankruptcy
    the status of a debtor who has been declared by judicial process to be unable to pay his debts. Although sometimes used indiscriminately to mean ... [12 related articles]
    Found on http://www.britannica.com/eb/a-z/b/17
    
    
25. 
    bankruptcy
    bankruptcy 1. The state of having been legally declared bankrupt. 2. Lack of resources; the complete lack of a particular quality, especially good or ethical qualities; moral bankruptcy.
    Found on http://www.wordinfo.info/words/index/inf