involuntary adjudication

involuntary adjudication
An adjudication in bankruptcy on an involuntary petition. Bankruptcy Act § 1(2); 11 USC § 1(2). A determination, whether by decree or by operation of law, that a person is a bankrupt. 29 Am J2d Bankr § 264. A determination, whether by decree not sought by him or by operation of law, that a person is a bankrupt. 29 Am J2d Bankr § 264. In a broader sense, any judgment other than a consent judgment.

Ballentine's law dictionary. . 1998.

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  • involuntary bankruptcy proceeding — A proceeding in a court of bankruptcy instituted by the creditors of a person, firm, or corporation, without his or its consent, to have him or it adjudicated and declared to be a bankrupt. Re Murray (DC Iowa) 96 F 600, 602. See involuntary… …   Ballentine's law dictionary

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  • involuntary petition — A petition filed in a court of bankruptcy which seeks an adjudication of bankruptcy against the defendant. 9 Am J2d Bankr § 207 …   Ballentine's law dictionary

  • act of bankruptcy — An act for which the person who performed it may be adjudicated a bankrupt, provided timely proceedings for an adjudication are invoked and the person is not within the class of persons excepted from an involuntary adjudication. 9 Am J2d Bankr §… …   Ballentine's law dictionary

  • wage-earner — Literally, one who earns wages. For the purpose of the exception from involuntary adjudication in bankruptcy, an individual who works for wages, salary, or hire at a rate of compensation not exceeding $1,500 per year. Bankruptcy Act § 1(32); 11… …   Ballentine's law dictionary

  • bankruptcy — /bangk rupt see, reuhp see/, n., pl. bankruptcies. 1. the state of being or becoming bankrupt. 2. utter ruin, failure, depletion, or the like. [1690 1700; BANKRUPT + CY] * * * Status of a debtor who has been declared by judicial process to be… …   Universalium

  • bankruptcy — bank·rupt·cy / baŋ ˌkrəp sē/ n pl cies 1: the quality or state of a bankrupt filed for bankruptcy 2: the administration of an insolvent debtor s property by the court for the benefit of the debtor s creditors the debt was discharged in bankruptcy …   Law dictionary

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  • Department of Defense Whistleblower Program — Aircraft procurement whistleblowing launched the modern Defense whistleblower program. The Department of Defense Whistleblower Program enables, in part, the federal mission of protecting whistleblowers by committing the Inspector General of the U …   Wikipedia

  • bankruptcy proceedings — General term for the various types of proceedings under the Bankruptcy Code (11 U.S.C.A.) that are initiated either by an insolvent individual or business (termed a voluntary bankruptcy) or by creditors (termed an involuntary bankruptcy) seeking… …   Black's law dictionary

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