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What (who) is BANKRUPTCY - definition
LEGAL PROCESS THROUGH WHICH PEOPLE OR OTHER ENTITIES WHO CANNOT REPAY DEBTS TO CREDITORS MAY SEEK RELIEF FROM SOME OR ALL OF THEIR DEBTS
Bankruptcies; Bankruptcy law; Bankrupting; Bankruptcy proceeding; Bankruptcy proceedings; Bankrupted; Bankrupcy; Bankrupt; Bankruptcy protection; Voluntary bankruptcy; Involuntary bankruptcy; Reorganization bankruptcy; Bankrupsy; Banckruptcy; Civil Aspect of Bankruptcy; Bankruptcy fraud; Bankruptcy, Civil Aspect of; Consumer proposal; Bankruptcy basics; Bankruptcy Law; Fraudulent bankruptcy; Bankruptcy petition; Moral Aspect of Bankruptcy; Bankruptcy, Moral Aspect of; Insolvency and reorganization law; Creditor debtor rights; Creditor debtor rights law; Backruptcy; Personal insolvency; Insolvency law of Sweden
![largest municipal bankruptcy case]] in U.S. history.](https://commons.wikimedia.org/wiki/Special:FilePath/Detroit, USA Taken From Windsor, Canada.jpg?width=200 "largest municipal bankruptcy case]] in U.S. history.")
![John Law]]'s [[Mississippi Company]] led to French national bankruptcy in 1720.](https://commons.wikimedia.org/wiki/Special:FilePath/John Law cartoon (1720).png?width=200 "John Law]]'s [[Mississippi Company]] led to French national bankruptcy in 1720.")
Bankruptcy
·noun Complete loss;
- followed by of.
II. Bankruptcy ·noun The act or process of becoming a bankrupt.
III. Bankruptcy ·noun The state of being actually or legally bankrupt.
bankruptcy
n.
Insolvency.
bankruptcy
n. to declare, go into, file for, petition for bankruptcy
Wikipedia
Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.
Bankrupt is not the only legal status that an insolvent person may have, and the term bankruptcy is therefore not a synonym for insolvency.
Examples of use of BANKRUPTCY
1. Bankruptcy Judge Patricia Williams issued a similar ruling regarding the Spokane Diocese‘s bankruptcy.
2. United and US Airways emerged from bankruptcy in the past year; Delta and Northwest are now under bankruptcy protection.
3. Lehman filed for bankruptcy protection last week.
4. Bankruptcy Court, spokesman Richard Rothstein said.
5. The company filed for bankruptcy protection recently.