petition in bankruptcy

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.

Dictionary from West's Encyclopedia of American Law. 2005.


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.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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  • 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 …   Ballentine's 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

  • 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 petition — the document filed with the court to initiate a bankruptcy proceeding (Glossary of Common Bankruptcy Terms) A formal request for the protection of the federal bankruptcy laws. (There is an official form for bankruptcy petitions.)… …   Glossary of Bankruptcy

  • petition for relief — (or bankruptcy petition or petition) the document that commences a bankruptcy proceeding; the document filed with the court to initiate a bankruptcy proceeding. (Common Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • petition date — The date a bankruptcy petition is filed with the Bankruptcy Court (SA Bankruptcy.com) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • petition preparer — a business not authorized to practice law that prepares bankruptcy petitions (Glossary of Common Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • petition for a receiving order — An application by a creditor to the Court for an Order adjudging a debtor bankrupt (Ontario Bankruptcy Dictionary) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • bankruptcy order — (=receiving order) (Dictionary of Canadian Bankruptcy Terms) An Order handed down by the Court following the successful petition to have a person or company placed into bankruptcy. In an amendment dated December 15, 2004 this term was changed to… …   Glossary of Bankruptcy

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