Bankruptcy
1bankruptcy — also failure and insolvency a legal procedure for dealing with debt problems of individuals and business. A non technical term for a legal state of insolvency (Glossary of Common Bankruptcy Terms) A legal procedure for dealing with debt problems… …
2Bankruptcy Code — the name given to the statutory body of bankruptcy laws after the Bankruptcy Reform Act of 1978 (Glossary of Common Bankruptcy Terms) The common name given to title 11 of the United States Code. The Bankruptcy Code is a set of federal statutes… …
3bankruptcy court — the federal tribunal where cases under the Bankruptcy Code are litigated (Glossary of Common Bankruptcy Terms) A federal court where cases under the Bankruptcy Code are litigated. The Bankruptcy Court is a unit of the United States District Court …
4bankruptcy petition — the document filed with the court to initiate a bankruptcy proceeding (Glossary of Common Bankruptcy Terms) A formal request for the protection of the federal bankruptcy laws. (There is an official form for bankruptcy petitions.)… …
5bankruptcy rules — Also known as the Federal Rules of Bankruptcy Procedure. These rules govern the procedures in bankruptcy and adversary cases. In addition to these rules, each court normally is governed by its own local rules that supplement the Bankruptcy Rules …
6bankruptcy estate — all legal or equitable interests of the debtor in property at the time of the bankruptcy filing. The estate includes all property in which the debtor has an interest, even if it is owned or held by another person (Glossary of Common Bankruptcy… …
7bankruptcy sale — A free and clear sale of debtor s real estate or personal property conducted by the bankruptcy court through the trustee in order to obtain proceeds for distribution to creditors of the bankruptcy estate. (Bernstein s Dictionary of Bankruptcy… …
8Bankruptcy Reform Act of 1994 — the most comprehensive piece of bankruptcy legislation since the Bankruptcy Reform Act of 1978; signed into law on October 22, 1994 with most provisions effective immediately; included in the 1994 Act are: provisions to expedite bankruptcy… …
9Bankruptcy Reform Act of 1978 — the first substantive bankruptcy code revision since the Chandler Act of 1938. It took effect on October 1, 1979 and some of the major elements of this act were as follows: upgrading the jurisdiction of the U.S. bankruptcy courts to deal with… …
10Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 — Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 This legislation primarily affects consumer filings, making it more difficult for a person or estate to file for Chapter 7 bankruptcy. The BAPCPA impacts business filers as… …
