involuntary bankruptcy proceeding

A proceeding in a court of bankruptcy instituted by the creditors of a person, firm, or corporation, without his or its consent, to have him or it adjudicated and declared to be a bankrupt. Re Murray (DC Iowa) 96 F 600, 602. See involuntary adjudication.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • involuntary bankruptcy — n: bankruptcy declared upon petition of creditors see also bankruptcy Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. involuntary bankruptcy …   Law dictionary

  • Involuntary Bankruptcy — A legal proceeding in which a person or business is requested to go into bankruptcy by creditors, rather than on the person or business own accord. Creditors seeking involuntary bankruptcy must petition the court to initiate the proceedings, and… …   Investment dictionary

  • reinstatement of bankruptcy proceeding — A remedy of a creditor not given notice of an application for the dismissal of an involuntary proceeding for adjudication, upon which application a dismissal was ordered. 9 Am J2d Bankr § 266. The rest oration of an ordinary bankruptcy proceeding …   Ballentine's law dictionary

  • involuntary case — Creditors of a debtor may petition the court to force the debtor into a bankruptcy proceeding. This may also be referred to as a creditors petition. If the debtor has 12 or more creditors, the petition must be filed by three or more creditors… …   Glossary of Bankruptcy

  • 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 in the United States — The United States Constitution (Article 1, Section 8, Clause 4) authorizes Congress to enact uniform Laws on the subject of Bankruptcies throughout the United States. Congress has exercised this authority several times since 1801, most recently… …   Wikipedia

  • bankruptcy proceedings — General term for the various types of proceedings under the Bankruptcy Code (11 U.S.C.A.) that are initiated either by an insolvent individual or business (termed a voluntary bankruptcy) or by creditors (termed an involuntary bankruptcy) seeking… …   Black's law dictionary

  • Bankruptcy — State of being unable to pay debts. Thus, the ownership of the firm s assets is transferred from the stockholders to the bondholders. The New York Times Financial Glossary * * * bankruptcy bank‧rupt‧cy [ˈbæŋkrʌptsi] noun bankruptcies PLURALFORM… …   Financial and business terms

  • bankruptcy — Inability to pay debts. In bankruptcy of a publicly owned entity, the ownership of the firm s assets is transferred from the stockholders to the bondholders. Bloomberg Financial Dictionary Legal status of a company unable to pay creditors.… …   Financial and business terms

  • 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

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