1) Afateworsethandebt 2) Insolvency 3) Ruin
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1) Chapter XI topic 2) Collapse 3) Failure 4) Liquidation 5) Red state 6) Ruin
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https://www.crosswordclues.com/clue/bankruptcy
- a state of complete lack of some abstract property
- inability to discharge all your debts as they come due
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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....
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• (n.) The state of being actually or legally bankrupt. • (n.) Complete loss; -- followed by of. • (n.) The act or process of becoming a bankrupt.
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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.
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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...
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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.
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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.
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http://www.encyclo.co.uk/local/20460
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.
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(n) Bankruptcy is the situation in which the liabilities of a person or business entity exceeds the assets and properties owned by them and such entity has no means to settle the dues to their creditors fully. Courts declares an entity as bankrupt based on the petition moved by such person or entity.
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http://www.encyclo.co.uk/local/21213
A proceeding in a federal court in which a debtor, who owes more than his or her assets, can relieve the debts by transferring his or her assets to a trustee.
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http://www.encyclo.co.uk/local/21398
A federal law consisting of different chapters (i.e. chapter 7, chapter 11 or chapter 13) that allow
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http://www.encyclo.co.uk/local/22403
A state of insolvency of an individual or an organization — in other words, an inability to pay debts. The U.S. bankruptcy code is divided into chapters that provide different types of relief from insolvency. Under Chapter 7 bankruptcy, you petition the court to be freed from all your debts following the liquidation of almost all your assets. ......
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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 .
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http://www.encyclo.co.uk/webster/B/12
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>
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A federal legal process for debtors seeking to eliminate or repay their debts. There are two types of bankruptcies for consumers: Chapter 7, which allows debtors to wipe out many debts in exchange for giving up nonexempt property to be sold to repay creditors, and Chapter 13, which allows debtors to keep all of their property and repay all or a por...
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http://www.nolo.com/dictionary/bankruptcy-term.html
Bankruptcy is the state of an individual who is unable to pay his debts and against whom a bankruptcy order has been made by a court.
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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.
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Bankruptcy is legal procedure for dealing with debts when you cannot pay.
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https://www.encyclo.co.uk/local/20422
noun a legal process intended to insure equality among the creditors of a corporation declared to be insolvent
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https://www.encyclo.co.uk/local/20974
- Legal process, governed by federal statute, whereby the DEBTS of an insolvent person are liquidated after being satisfied to the greatest extent possible by the DEBTOR'S ASSETS. During bankruptcy, the debtor's assets are held and managed by a court appointed TRUSTEE.
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https://www.encyclo.co.uk/local/21071
A condition in which a business cannot meet its debt obligations and petitions a federal district court for either reorganization of its debts or liquidation of its assets. In the action the property of a debtor is taken over by a receiver or trustee in bankruptcy for the benefit of the creditors. This action is conducted as prescribed by the Natio...
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https://www.encyclo.co.uk/local/21181
A proceeding in a federal court in which a debtor who owes more than his or her assets can relieve the debts by transferring his or her assets to a trustee.
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https://www.encyclo.co.uk/local/21405
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.
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https://www.encyclo.co.uk/local/21674
No exact match found.
