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 ?
440) A different case is where the judgment creditor serves a third party's bank where the third party has not yet been held liable as the recipient of a fraudulent conveyance.
Fogelson, Toward a Rational Treatment of Fraudulent Conveyance Cases Involving Leveraged Buyouts, 68 N.
What should a credit manager do to protect his company against voidable fraudulent conveyances in a multi-party setting?
1961 (1999), solidified a property owner's right to freely transfer his property prior to judgment subject to subsequent equitable remedies under fraudulent conveyance statutes.
Fraudulent conveyance analysis provides a sword for those who think the strategic transfer does not pass the "smell test," and the analysis itself can be justified by both the policies and the text of the Uniform Act.
Fraudulent conveyance law is an extremely important factor to be considered in asset protection.
Having thus decided a leveraged buyout can be a fraudulent conveyance, the court turned to the Wieboldt buyout.
The risk of a fraudulent conveyance must always be considered.
The key to protecting against fraudulent conveyance is to prove the company was financially solvent at the time of the transaction.
Hayes, Partner, McGuireWoods LLP will speak at the Knowledge Group's webcast entitled: “What You Need to Know About Fraudulent Conveyance Law in 2014.