bankruptcy

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“
Had his advisers get on the phone with elected in officials in towns and states where Chrysler has plants and told them that the bankruptcy was about to happen.

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Definitions (17)

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  1. The state of being bankrupt or insolvent; inability to pay all debts; failure in trade. In law, specifically, the status of a person or corporation that by reason of insolvency has been adjudicated a bankrupt.
  2. Figuratively, utter wreck; ruin.
  3. Act of bankruptcy in law, an act the commission of which by a debtor renders him liable to be adjudged a bankrupt. Among acts of bankruptcy are the assignment of his property by a debtor to a trustee for the benefit of his creditors; the making of a transfer of any of his property in fraud of his creditors, or the concealment or removal of it to evade legal process; departing from the country, or remaining out of it, in order to defeat or delay creditors; the filing in court of a declaration of inability to pay debts; non-payment of debts under certain other circumstances defined by the law as indicating insolvency.
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Examples (32)

  • A 2nd mortgage loan after a bankruptcy is the easiest way to access cash. —  We Blog A Lot
  • A headline about the bankruptcy was then picked up by Bloomberg as part of its syndication deal with the service, which follows debt-market news.
  • Here, you'll discover the clear-cut answers, information and strategies you need to figure out whether bankruptcy is the right solution for your debt problems. —  Digital50.com Digital 50 Daily Industry News RSS Feed
  • You must be sure to list all of your creditors because any that you fail to list, will be able to sue you and collect even after the bankruptcy has been adjudicated. —  xml's Blinklist.com
  • Leaving out a creditor's name or address or forgetting a loan that you co-signed for, will surely bring on litigation against you even after your bankruptcy has been adjudicated. —  xml's Blinklist.com
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Roget's II Roget's II: The New Thesaurus

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bankruptcy:   bankruptcies
Roget's II: The New Thesaurus, Third Edition by the Editors of the American Heritage® Dictionary. Copyright © 2003, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
 

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