| Dictionary, Encyclopedia and Thesaurus - The Free Dictionary 1,723,521,777 visitors served. |
|
Dictionary/ thesaurus | Medical dictionary | Legal dictionary | Financial dictionary | Acronyms | Idioms | Encyclopedia | Wikipedia encyclopedia | ? |
Involuntary Bankruptcy |
Also found in: Wikipedia | 0.01 sec. |
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). How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
|
| ? Mentioned in | ? References in periodicals archive | |
|---|---|---|
Involuntary bankruptcy may be filed under Chapter 7 or 11. Involuntary bankruptcy may be filed under Chapter 7 or 11. a Woodland Hills firm, has filed an involuntary bankruptcy petition against a now-defunct San Gabriel Valley auto brokerage firm whose sole stockholder is the current owner of Rusnak Pasadena, a high-end automobile dealership. |
| Financial Dictionary |
| Free Tools: |
For surfers:
Free toolbar & extensions |
Word of the Day |
Help
For webmasters: Free content | Linking | Lookup box | Double-click lookup | Partner with us |
|---|