Act of bankruptcy

(redirected from Bankruptcy Act)
Also found in: Legal, Financial, Wikipedia.
Related to Bankruptcy Act: rules of court
(Law) an act of a debtor which renders him liable to be adjudged a bankrupt.

See also: Act

References in periodicals archive ?
He spent several years in debtors' prison, until the United States Congress passed a bankruptcy act to release him.
In this context, she explained that an integrated package of legislation has been adopted, pointing out to the latest one which was the House of Representatives' approval of the Bankruptcy act which aims at improving the business environment and facilitating exit from the market.
The act introduces changes and amendments to the Civil Code and Bankruptcy Act to apply bankruptcy procedure to individuals with tax liabilities assumed as a result of previous entrepreneurship activities and losing the status of sole proprietor, as well as to those conducting entrepreneurial activity without official registration.
At least some owners undoubtedly saw the new bankruptcy act as a way to retain control of the firms they had mismanaged, while avoiding the need to repay the loans that state-controlled banks had unthinkingly handed them.
The government on Thursday promulgated an Ordinance to make changes to the Insolvency and Bankruptcy Act.
Will a question support the project of a group of MPs from the Movement for Rights and Freedoms (MRF) to amend the Bankruptcy Act, which aims to prevent the secondary plunder of the CCB, Minister Goranov said there are quite complex legal constructs that will be very much debated in the Parliament, but he would personally support this project on the grounds that it would enable the fairness of CCT to be triumphed.
exists primarily under the Bankruptcy Act of 1898 and prior federal
45) The Perezes then filed a complaint in federal district court claiming, among other things, that the part of the Arizona Act that conditioned the renewal or issuance of a driver's license and vehicle registration on the satisfaction of a debt that had been discharged in bankruptcy conflicted with the Bankruptcy Act and violated the Supremacy Clause of the Constitution.
There has been a bigger boost in the economy as in India now there is a bankruptcy act in place, commercial courts have been set up and Prime Minister Narendra Modi has stressed on moving up the scale of the ease of doing business in India and for that purpose 7000 new changes have been made in business rules and regulations that make easier for foreign countries to do business in the country," Sarna stated.
Once we got past that point, the demonization of the commercially defeated reached its logical culmination with the Insolvency and Bankruptcy Act of 2016.
9) However, the Supreme Court struck down parts of the 1978 Bankruptcy Act in Northern Pipeline, making many of the reforms inoperative.
recover debts during bankruptcy, the Bankruptcy Act shields debtors from