Bankruptcy Petition

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Bankruptcy Petition

1. A formal request by an individual or a business to a bankruptcy court to declare bankruptcy and to discharge or restructure debts (after repayment is made insofar as possible).

2. A formal request by an individual or a business' creditors to a bankruptcy court to declare bankruptcy and to require repayment or restructuring of debts. Some businesses and individuals (such as fishermen in Canada) are exempt from this type of forced bankruptcy.
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This decision could have a chilling effect on creditors' willingness to join involuntary bankruptcy petitions in Nevada and other jurisdictions due to their exposure to potential liability following dismissal of the petition as a result of their disqualification based on their partially disputed claims.
filed voluntary bankruptcy petitions under Chapter 11 of the US Bankruptcy Code to seek to restructure their debt while continuing normal business operations, the company said.
With the exception of the New York-White Plains-Wayne, NY-NJ MSA -- which saw an 11% spike in small business bankruptcy petitions relative to 2Q 2011 -- Equifax data shows nearly all of the 15 MSAs topping the list of those with the greatest number of small business bankruptcies in the second quarter of 2012 remained largely unchanged since Q2 2011; all were among the top ranking a year ago.
21 September 2011 - Struggling Swedish car maker Saab Automobile has appealed against the bankruptcy petitions filed by trade unions Unionen and Ledarna on behalf of Saab employees, local business daily Dagens Industri (DI) reported Tuesday afternoon.
THE number of Teesside people presenting their own bankruptcy petitions has fallen by 26% compared to the same quarter last year.
Com is the first online school developed to teach attorneys and their staff how to prepare well-detailed Chapter 7 and Chapter 13 bankruptcy petitions.
The number of people presenting their own bankruptcy petitions in the town in the final quarter of 2009 rose by 67% compared to the same quarter last year, according to leading personal insolvency specialist RSM Tenon.
The number of people presenting their own bankruptcy petitions in the region rose by 28 per cent compared to the same quarter last year, figures show.
As the downturn still hangs over Hong Kong, the number of bankruptcy petitions and orders surged 69.
Individuals may file Chapter 13 bankruptcy petitions if they: (1) reside, have a domicile, a place of business or property in the United States; (2) have a source of regular income; and (3) on the date the petition is filed owe less than $290,525 in non-contingent, liquidated, unsecured debts and less than $871,550 in non-contingent, liquidated, secured debts.
In "How To Start A Virtual Bankruptcy Assistant Service", certified paralegal Victoria Ring draws upon her years of experience and expertise in having developed an online service business drafting bankruptcy petitions for attorneys nationwide.
Although the figure was slightly down on the previous quarter's total of 15,133, during the 12 months to the end of June the total number of self-imposed bankruptcy petitions hit a new high of 54,536.