involuntary bankruptcy


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Involuntary bankruptcy

The process where creditors petition the court to begin bankruptcy proceedings on a debtor. Also see Voluntary bankruptcy.

Involuntary Bankruptcy

A situation in which a creditor may force a debtor into bankruptcy. A creditor may file for involuntary bankruptcy if the debtor has become severely and consistently delinquent or if a custodian has been appointed for the debtor in the previous six months. After the petition is filed, the debtor usually has 20 days in which to contest it. If the debtor objects to involuntary bankruptcy, he/she must show either that payments are not as delinquent as claimed or that he/she is taking steps to restore solvency. If the debtor does not show this, the bankruptcy court can force liquidation to repay the creditor(s).

involuntary bankruptcy

Bankruptcy that is forced by creditors instead of being initiated by the firm or individual. Compare voluntary bankruptcy. See also Chapter 7, Chapter 11.
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On Friday, Bryant Riley, the majority owner of Country Coach, filed to place the financially ailing recreational vehicle maker into involuntary bankruptcy under Chapter 11 of the bankruptcy code.
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New York, May 25 (ANI): Acclaimed photographer Annie Leibovitz might be earning a lot of money from Vanity Fair and corporate work, but she is still being threatened with involuntary bankruptcy after not settling an overdue debt with a lighting company.
If the action is taken, it is believed that the creditors would look to force the Rangers into involuntary bankruptcy.
Creditors Move Rangers Holding Companies Into Involuntary Bankruptcy (http://www.
It has been reported that the creditors have the involuntary bankruptcy paperwork drawn up.
in the R2D2 and related involuntary bankruptcy cases initiated by Aramid former executive David Molner.
One involuntary bankruptcy was dismissed (not listed below) and another dismissal is pending.
It's also not the only pending litigation for the developers, who are in the midst of involuntary bankruptcy proceedings with debt of more than $230 million.
Seeking to put an individual into involuntary bankruptcy is relatively uncommon but can occur when creditors suspect a debtor may be hiding or dissipating assets, according to Richard A.
A federal judge ordered Country Coach into Chapter 11 bankruptcy protection on Thursday, one month after the Junction City RV maker's majority owner filed a petition to put the company into involuntary bankruptcy.
The investors also didn't want to have to pay part of the debts tied to Arkansas Catfish Growers LLC, which operated as Seacat and was forced into involuntary bankruptcy in 2004 with debts of $15.