bankruptcy

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Related to Bankruptcy proceeding: Chapter 7 Proceedings

bank·rupt·cy

 (băngk′rəpt-sē, -rəp-sē)
n.
1. The state of being bankrupt.
2. A legal proceeding that allows for a person or entity to be declared bankrupt.
3. The system of adjudication that declares instances of bankruptcy: went into bankruptcy.

bankruptcy

(ˈbæŋkrʌptsɪ; -rəptsɪ)
n, pl -cies
the state, condition, or quality of being or becoming bankrupt

bank•rupt•cy

(ˈbæŋk rʌpt si, -rəp si)

n., pl. -cies.
1. the state of being bankrupt.
2. utter ruin or failure.
[1690–1700]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.bankruptcy - 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 duebankruptcy - 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 insolventbankruptcy - 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.

bankruptcy

noun
The condition of being financially insolvent:
Translations
إِفْلاس
bankrotúpadek
fallitkonkursbankerot
konkurssivararikko
csõd
gjaldòrot
surseance van betaling
bankrot
bankrot
konkurs
iflâs

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 intellectuellebank statement nrelevé m de comptebank transfer nvirement m bancaire (électronique)bank vault nchambre f fortebanned 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

bankrupt

(ˈbӕŋkrapt) adjective
unable to pay one's debts. He has been declared bankrupt.
noun
a person who is unable to pay his debts.
verb
to make bankrupt. His wife's extravagance soon bankrupted him.
ˈbankruptcy noun
References in classic literature ?
That they were gone was clear; and the bankruptcy proceedings which followed were like a sinister farce, bursts of laughter in a setting of mute anguish--that of the depositors; hundreds of thousands of them.
The bankruptcy proceedings had exhausted all the laughter there was in it.
108(a), amounts includible in gross income resulting from discharge of indebtedness income may be excluded when the discharge occurs in a bankruptcy proceeding, while the debtor is insolvent, if the debt is qualified farm indebtedness, or if the debt is qualified real property business indebtedness and an election under Sec.
By going through with the bankruptcy proceeding rather than the auction another bankruptcy attorney explained, other creditors are satisfied at the same time.
Bankruptcy law generally does not help to determine whether a liability should be included in an insolvency determination because, in a bankruptcy proceeding, liabilities are generally determined by creditors' claims filed with the court.
They should therefore be prepared, on short notice, to either exercise their right of redemption, to file a bankruptcy proceeding, or to take other steps to protect their interests.
The gains tax has re-emerged as a significant impediment to real estate restructuring because of a recent decision of the federal court of appeals holding that the gains tax is owned even if a workout occurs in a formal bankruptcy proceeding. It was therefore critical to find alternatives to limit tax on "phantom" gains.
Any time limitations associated with such tax attributes are suspended during the bankruptcy proceeding (BC Section 346(h)).
Two years ago, after Simon agreed to take back unsold apartments from Dansker -- including Skyview's -- in satisfaction of $15 million in loans, First New York was among the institutional creditors that forced Dansker into an involuntary bankruptcy proceeding.
Another provision will change the preference period, which outlines how long a lender must hang onto collateral before a bankruptcy proceeding to consider it theirs.
108(a)(1) are available if the discharge occurs when the debtor is insolvent or in a bankruptcy proceeding. Insolvent for this purpose means the excess of debt over the FMV of the taxpayer's assets, excluding assets that are "exempt property" protected under the bankruptcy laws.
It is important to note, though, that courts will respect the landlord's right of set-off with respect to security deposits or prepaid rent which were at one time commingled, but are later segregated by the landlord if (a) such segregation occurs Prior to an assignment for the benefit of creditors or the commencement of a bankruptcy proceeding and (b) the landlord's commingling was inadvertent as opposed to a deliberate disregard of the law.