bankruptcy

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bankruptcy,

n the legal process by which a person, business, or corporation is declared to be insolvent and unable to pay creditors.
References in periodicals archive ?
Clients may need long range advice to avoid financial difficulty and prevent further bankruptcies.
Lawmakers should take some responsibility for recent airline bankruptcies and eliminate government pension guarantees, according to a Wall Street Journal editorial.
The most common ailments that led to bankruptcies were cardio vascular diseases, such as high blood pressure, stroke and heart attack, and orthopedic problems, often from accidents.
Thus, quantity of claims, not their underlying merit, has become a driver in asbestos bankruptcies.
Manufacturing witnessed the greatest sector improvement, Teikoku found, with the number of bankruptcies falling to 811, 23.
The bankruptcy court can invoke its jurisdiction in equity to insure things are done which need to be done for the proper administration of bankruptcies.
Certain proposed provisions could affect bankruptcies which involve single asset real estate owners -- such as corporations or partnerships established for the purpose of owning an asset such as a building or shopping center.
Mark Thomas also concentrates his national practice in corporate bankruptcies, workouts and restructurings for secured lenders, syndicated loan agents, debtors and borrowers, involving both public and private companies.
Although bankruptcy is under federal law, states can define the property exemptions for bankruptcies declared within their boundaries.
The rise in bankruptcies comes at a time when California has recovered from the 1991-94 recession with an economic performance outpacing the nation's.
The number of bankruptcies continues to rise at a heady pace.
Kalikow's bankruptcy filing was evidence of the escalation in real estate-related bankruptcies, as the market continues to be flat and mortgage-holding banks grow increasingly impatient.