Bankruptcy Proceedings

Definition of Bankruptcy Proceedings

While bankruptcy may be defined by “The state of being actually or legally bankrupt” or “The act or process of becoming a bankrupt”, Bankruptcy Proceedings includes all proceedings in a federal court having jurisdiction in bankruptcy, procedure by which a debtor, starting bankruptcy proceedings —may be an individual, corporation, or municipality— is relieved of total liability for its debts.

Upon the successful completion of bankruptcy proceedings, the debtor is relieved of the debt obligations incurred prior to filing for bankruptcy. Some bankruptcy proceedings allow a debtor to stay in business in the meantime.

Under Chapter 11 and 13 proceedings several possibilities of refinancing are considered.

See Also

Bankruptcy
Bankruptcy Portal in the Legal Encyclopedia

Bankruptcy Claim

Bankruptcy Code

Bankruptcy Estate

Bankruptcy Plan

Bankruptcy Protection

Bankruptcy Rules

Bankrupt

Discharge in Bankruptcy

Involuntary Bankruptcy

Joint Bankruptcy

Trustee in Bankruptcy

Chapter 7

Chapter 9

Chapter 11

Chapter 12

Chapter 13

Bankruptcy notice

Further Reading:

Baldiga, Nancy R. “Practice Opportunities in Chapter 11.” CPA Journal. May 1998.

Elias, Stephen, Albin Renauer, and Robin Leonard. How to File for Chapter 7 Bankruptcy. Nolo Press, 1999.

The Entrepreneur Magazine Small Business Advisor. John Wiley, 1995.

Neely, Michelle Clark. “Personal Bankruptcy: The New American Pastime?” Business Perspectives. January 1999.

Pearce II, John A, and Samuel A. DiLullo. “When a Strategic Plan Includes Bankruptcy.” Business Horizons. September/October 1998.

Sheppard, J.P. “When the Going Gets Tough, the Tough Go Bankrupt: The Questionable Use of Chapter 11 as a Strategy.” Journal of Management Inquiry. No. 1, 1992.

Snyder, Stephen. Credit After Bankruptcy. Bellwether, 2000.

Tuller, Lawrence W. Getting Out: A Step-by-Step Guide to Selling a Business or Professional Practice. Liberty Hall, 1990.

Translations of Bankruptcy

Dansk (Danish)
n. – insolvens, fallit

Nederlands (Dutch)
bankroet

Français (French)
n. – banqueroute, faillite, (Jur) faillite, (fig) ruine, (fig) manque

Deutsch (German)
n. – Bankrott, Konkurs, Pleite

???????? (Greek)
n. – ????????, ?????????

Italiano (Italian)
bancarotta

Português (Portuguese)
n. – falência (f)

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Español (Spanish)
n. – bancarrota, quiebra

Svenska (Swedish)
n. – konkurs

??????(Chinese (Simplified))
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??????(Chinese (Traditional))
n. – ??, ??, ????, ????

??? (Korean)
n. – ??, ??, ??

??? (Japanese)
n. – ??, ??, ??, ??

??????? (Arabic)
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????? (Hebrew)
n. – ??????-????