petition in bankruptcy

A document filed in a court of bankruptcy or with a clerk thereof initiating a proceeding under the Bankruptcy Act. Bankr Act § 1(24); 11 USC § 1(24). A pleading in effect. Royal Indem. Co. v American Bond & Mortgage Co. 289 US 165, 77 L Ed 1100, 53 S Ct 551.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • petition in bankruptcy — A document filed in a specialized federal court to commence a proceeding to provide a means by which a debtor who is unwilling or financially unable to pay personal debts will satisfy the claims of his or her creditors as they come due.… …   Law dictionary

  • petition in bankruptcy — a written application by a debtor for the benefit of the Bankruptcy Act or by creditors to have a debtor adjudicated a bankrupt …   Useful english dictionary

  • petition — (or bankruptcy petition or petition for relief) the document that commences a bankruptcy proceeding (Glossary of Common Bankruptcy Terms) The document used to begin a bankruptcy case. See order for relief (Bernstein s Dictionary of Bankruptcy… …   Glossary of Bankruptcy

  • petition — pe‧ti‧tion [pˈtɪʆn] noun [countable] LAW an official letter to a law court, asking for a legal case to be considered: • He will file the petition early next week. ˈbankruptcy peˌtition LAW when a person or business that is owed money asks a… …   Financial and business terms

  • petition — pe·ti·tion 1 n 1: a formal written request made to an official person or body (as a court or board) a petition for equitable relief the creditor filed a petition for involuntary bankruptcy 2: a document embodying a formal written request petition …   Law dictionary

  • Bankruptcy Reform Act of 1978 — the first substantive bankruptcy code revision since the Chandler Act of 1938. It took effect on October 1, 1979 and some of the major elements of this act were as follows: upgrading the jurisdiction of the U.S. bankruptcy courts to deal with… …   Glossary of Bankruptcy

  • 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

  • petition — A written address, embodying an application or prayer from the person or persons preferring it, to the power, body, or person to whom it is presented, for the exercise of his or their authority in the redress of some wrong, or the grant of some… …   Black's law dictionary

  • bankruptcy — n. to declare, go into, file for, petition for bankruptcy * * * [ bæŋkrʌp(t)sɪ] file for. petition for bankruptcy go into to declare …   Combinatory dictionary

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