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.encyclo.co.uk/local/20047

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 ov...
Found on http://www.encyclo.co.uk/local/20194

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/definition.php?query=bankruptcy

Bankruptcy

Bankruptcy is legal procedure for dealing with debts when you cannot pay.
Found on http://www.cccs.co.uk/glossary/glossary.xhtml

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.encyclo.co.uk/local/20456

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.encyclo.co.uk/local/20460

Bankruptcy

This occurs when a person or a company is declared legally insolvent
Found on http://www.encyclo.co.uk/local/20536

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.encyclo.co.uk/local/20547

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 bankru...
Found on http://www.encyclo.co.uk/local/20550

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 ...
Found on http://www.encyclo.co.uk/local/20636

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/home.htm

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/

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.encyclo.co.uk/local/20688

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/businesscontractstermsdefinitionsglossary.htm

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.encyclo.co.uk/local/20965

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

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.encyclo.co.uk/local/20973

bankruptcy

noun a legal process intended to insure equality among the creditors of a corporation declared to be insolvent
Found on http://wordnetweb.princeton.edu/perl/webwn?s=bankruptcy

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/bfglosb.htm

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/bankruptcy/

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

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/info/view_unit/1875/

Bankruptcy

The inability to pay debts. Discover What It`s Like to Live Easy With EquiTrend
Found on http://www.equitrend.com/glossary200.xhtml

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. Under the protection of the bankruptcy court, debtors may be released from or "discharged" from their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over t...
Found on http://www.encyclo.co.uk/local/21681

Bankruptcy

a federal law whereby a person's assets are turned over to a trustee and used to pay off outstanding debts; this usually occurs when someone owes more than they have the ability to repay.
Found on http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/buying
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