bankruptcy

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Related to bankrupt: insolvency, iva, Bankruptcies

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 ?
Morally Bankrupt Volume II: Pain Remover by Taham Acey NRGOD, 2001, $15.
Bishop Whitten said the dean of the cathedral parish was in the midst of a $500,000 fundraising drive and articles suggesting the Anglican Church was going bankrupt were extremely unhelpful.
The difficult question for auditors is how to distinguish businesses that will regain equilibrium from those that will eventually become bankrupt.
The Archbishop of Cape Town, Njongonkulu Ndungane, points out that individuals or businesses can have their debts written off when they go bankrupt.
J is neither a bankrupt nor insolvent and neither debt is qualified farm indebtedness.
This book is a collection of personal disasters and tells of those who have become bankrupt through little fault of their own.
Each individual creditor's ratio of stock value received to debt canceled must be at least 50% of the corresponding ratio of unsecured creditors as a group; otherwise, the exception does not apply and the bankrupt taxpayer must declare COD income (which reduces NOL by a corresponding amount) equal to the excess of the debt canceled over the value of the stock issued in exchange for it.
A lot of loans were made with the idea that countries don't go bankrupt.
From the morally bankrupt to the financially bankrupt, Tower Records searches picked up in the wake of the assets of the music retailer being sold for $134 million.
Philip Henry Martin, an undischarged bankrupt has been sentenced to 20 months imprisonment at Amersham Crown Court after he pleaded guilty to acting in the management and formation of two companies whilst an undischarged bankrupt and to fraudulently removing Au54,000 from one of those companies.
Joe Swash, 31, King of the Jungle and former EastEnders star, was declared bankrupt for the second time over unpaid tax bills earlier this year.
Labour in Caerphilly has learned nothing, they are as intellectually bankrupt, as the people of Caerphilly will be bankrupted financially.