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 ?
figure By BRIAN WASUNA Three years after the old Bankruptcy Act was repealed, the number of cases filed under the now-tightened Insolvency Act have drastically fallen meaning that people were filing for bankruptcy to evade paying their debts.
(33) The Supreme Court majority in Husky first noted that the predecessor statute to [section] 523(a)(2) in the former Bankruptcy Act referred only to "false pretenses" and "a false representation." (34) When it enacted the Bankruptcy Reform Act of 1978, Congress added "actual fraud" to the statute.
At the same time, the work of these scholars was not specifically devoted to issues related to the state of modern Bankruptcy Act.
The couple was expected to be questioned by the creditors on Ting in his dealings and his ability to pay pursuant to Sections 17 and 31 of the Bankruptcy Act 1967.
contractual flexibility as compared to the prior Bankruptcy Act but
Congress passed the Intellectual Property Licenses and Bankruptcy Act, which amended the rules on rejection of licenses of intellectual property, expressly including "patents, copyrights and trade secrets." Critically, this amendment did NOT include trademarks.
In the light of the recent legislation of Bankruptcy Act, RERA may not create separate provisions to deal with bankruptcy.
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.