Legal bankruptcy

Legal bankruptcy

A legal proceeding for liquidating or reorganizating a business.

Legal Bankruptcy

A bankruptcy that has resulted in legal proceedings. See also: Chapter 7, Chapter 11, Chapter 13.
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Here, the moral and legal bankruptcy of the Canadian government's support for the Saudi-led aggression has never been clearer.
Entrepreneur friendly legal bankruptcy framework will also be developed for SMEs to enable easy exit.
A programme to provide forward and backward linkages with multiple value chains of manufacturing and services sector will also be put in place along with a friendly legal bankruptcy framework for SMEs to facilitate easy exit which were CII's key recommendations.
"They have emerged from legal bankruptcy, but they still have closed a number of fire stations and they haven't hired back all the police they laid off," he said.
The Executive Committee of the Economic Chamber of Macedonia (SKM) said there is an apparent gap between the formal and real legal bankruptcy procedure.
- There have been no petitions for legal bankruptcy proceedings.
rating agency said, referring to the government-backed turnaround body which is believed to be planning legal bankruptcy proceedings for the ailing carrier.
The Japanese government says JAL will continue to make payments for general business transactions based on existing contracts, even if the airline were to apply for legal bankruptcy proceedings.
"It required me to leave my comfort zone and begin to research, learn, and advocate regarding challenging legal bankruptcy issues." UM Law Professor Patricia Redmond, who has led the school to success in this competition over the past decade, advised the teams through approximately 30 practice rounds, with the support of UM law professor and substantive consolidation expert William Widen.
Colo Colo, who are emerging from a year-long legal bankruptcy, have landed Zamorano for nothing.
But this tax reduction privilege is not applied to firms which opt to seek to rehabilitate through debt-waiver talks with creditor banks rather than resorting to legal bankruptcy proceedings.
- There have been no petitions for legal bankruptcy proceedings, no bankruptcy proceedings outside legal framework and no occurrence of cause for these proceedings.