Insolvency — means the inability to pay one s debts as they fall due. Usually used to refer to a business, insolvency refers to the inability of a company to pay off its debts. Business insolvency is defined in two different ways: Cash flow insolvency Unable… … Wikipedia
insolvency — The condition of a person or business that is insolvent; inability or lack of means to pay debts. Such a relative condition of a person s or entity s assets and liabilities that the former, if all made immediately available, would not be… … Black's law dictionary
insolvency — The condition of a person or business that is insolvent; inability or lack of means to pay debts. Such a relative condition of a person s or entity s assets and liabilities that the former, if all made immediately available, would not be… … Black's law dictionary
insolvency statutes — State statutes, comparable to the National Bankruptcy Act, which provide a proceeding by or against a debtor to have him declared insolvent and his property brought into court for disposition among his creditors in accordance with law. Vanuxem v… … Ballentine's law dictionary
Commercial insolvency in Canada — A closed restaurant in Gananoque, Ontario Commercial insolvency in Canada has options and procedures that are distinct from those available in consumer insolvency proceedings. It is governed by the following statutes: The Bankruptcy and… … Wikipedia
foreign proceeding — Under Title 11 U.S.C. Section 101: (23) The term foreign proceeding means a collective judicial or administrative proceeding in a foreign country, including an interim proceeding, under a law relating to insolvency or adjustment of debt in which… … Glossary of Bankruptcy
involuntary insolvency — A proceeding under a state insolvency statute brought against an alleged insolvent. 29 Am J Rev ed Insolv § 14. See involuntary bankruptcy … Ballentine's law dictionary
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
Bankruptcy — Notice of closure attached to the door of a computer store the day after its parent company declared bankruptcy (strictly, put into administration see text) in the United Kingdom. Bankruptcy is a legal status of an insolvent person or an… … Wikipedia
Chapter 15, Title 11, United States Code — Bankruptcy in the United States Bankruptcy in the United States Authority · History U.S. Trustee Court … Wikipedia
