petition in bankruptcy

petition in bankruptcy
A document filed in a court of bankruptcy or with a clerk thereof initiating a proceeding under the Bankruptcy Act. Bankr Act § 1(24); 11 USC § 1(24). A pleading in effect. Royal Indem. Co. v American Bond & Mortgage Co. 289 US 165, 77 L Ed 1100, 53 S Ct 551.

Ballentine's law dictionary. . 1998.

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Look at other dictionaries:

  • petition in bankruptcy — A document filed in a specialized federal court to commence a proceeding to provide a means by which a debtor who is unwilling or financially unable to pay personal debts will satisfy the claims of his or her creditors as they come due.… …   Law dictionary

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