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bankruptcy
(redirected from Fraudulent conveyance)

   Also found in: Medical, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
bank·rupt  (bngkrpt, -rpt)
n.
1. Law A debtor that, upon voluntary petition or one invoked by the debtor's creditors, is judged legally insolvent. The debtor's remaining property is then administered for the creditors or is distributed among them.
2. A person who is totally lacking in a specified resource or quality: an intellectual bankrupt.
adj.
1.
a. Having been legally declared financially insolvent.
b. Financially ruined; impoverished.
2.
a. Depleted of valuable qualities or characteristics: a morally and ethically bankrupt politician.
b. Totally depleted; destitute: was bankrupt of new ideas.
c. Being in a ruined state: a bankrupt foreign policy.
tr.v. bank·rupt·ed, bank·rupt·ing, bank·rupts
1. To cause to become financially bankrupt.
2. To ruin: an administration that bankrupted its credibility by seeking to manipulate the news.

[French banqueroute, from Italian banca rotta, broken counter (from the practice of breaking the counters of bankrupt bankers) : banca, moneychanger's table; see banco + rotta, past participle of rompere, to break (from Latin rumpere; see reup- in Indo-European roots).]

bankrupt·cy (-rpt-s, -rp-s) n.
bank·ruptive adj.

bankruptcy [ˈbæŋkrʌptsɪ -rəptsɪ]
n pl -cies
the state, condition, or quality of being or becoming bankrupt
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.bankruptcy - a state of complete lack of some abstract propertybankruptcy - a state of complete lack of some abstract property; "spiritual bankruptcy"; "moral bankruptcy"; "intellectual bankruptcy"
failure - lack of success; "he felt that his entire life had been a failure"; "that year there was a crop failure"
2.bankruptcy - 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"
insolvency - the lack of financial resources
3.bankruptcy - a legal process intended to insure equality among the creditors of a corporation declared to be insolvent
legal proceeding, proceeding, proceedings - (law) the institution of a sequence of steps by which legal judgments are invoked
law, jurisprudence - the collection of rules imposed by authority; "civilization presupposes respect for the law"; "the great problem for jurisprudence to allow freedom while enforcing order"

bankruptcy
noun
1. insolvency, failure, crash, disaster, ruin, liquidation, indebtedness Many established firms were facing bankruptcy.
2. emptiness, want, vacuum, deficiency, void, shortcoming, deprivation, dearth, destitution, vacuity The massacre laid bare the moral bankruptcy of the regime.
Translations
bankruptcy [ˈbæŋkrəptsɪ]
A. N
1. (Jur) → quiebra f
2. (fig) → falta f (of de) moral bankruptcydecadencia f moral
B. CPD bankruptcy court N (Brit) → tribunal m de quiebras
bankruptcy proceedings NPLjuicio m de insolvencia
bankruptcy [ˈbænkrʌptsi ˈbæŋkrəptsi] n
(financial) [person, company] → faillite f
to file for bankruptcy → déposer son bilan
(fig) moral bankruptcy → carence f de moralité
intellectual bankruptcy → carence f intellectuelle
bank statement nrelevé m de compte
bank transfer nvirement électronique)m bancaire >
bank vault nchambre f forte
banned substance n (= drug) → substance f prohibée
bankruptcy
n
(Jur) → Bankrott m, → Konkurs m; (instance) → Konkurs m; the possibility of bankruptcydie Möglichkeit eines or des Bankrotts or Konkurses
(fig)Bankrott m

bankruptcy:
Bankruptcy Court
nKonkursgericht nt
bankruptcy proceedings
bankruptcy [ˈbæŋkrəptsɪ] nfallimento, bancarotta
bankruptcy proceedings → procedura fallimentare


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If the lawyer or accountant is later found to have helped you remove funds from the reach of a creditor they can be sued for fraudulent conveyance, conspiracy to defraud a creditor, facilitating a fraudulent conveyance, obstructing justice and other things.
If the target company's creditors successfully argue that the target was insolvent at the time of the acquisition (or was rendered insolvent by the acquisition), and that the price paid was less than the "reasonably equivalent value" of the assets acquired, the court may find that a fraudulent conveyance occurred, regardless of whether there was any intent on behalf of the parties to defraud creditors.
Moreover, nearly all states have adopted either the Uniform Fraudulent Transfer Act or Uniform Fraudulent Conveyance Act.
 
 
 
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