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 ?
47) The modern versions of fraudulent conveyance laws, capturing actual fraud, date back to England in the sixteenth century.
The parties would exchange releases of their claims against each other and the fraudulent conveyance action would be dismissed.
In any event, in a fraudulent conveyance case, a creditor is not always in a position to designate a specific thing as having been the subject of a fraudulent conveyance.
15 billion to the Trust to settle the fraudulent conveyance case.
i]f there is no limit on when a creditor can sue to set aside a transfer, fraudulent conveyance law becomes an insurance policy for creditors of companies that have gone private.
But there's a rub: GEA argues that if it waits to sue Khan for fraudulent conveyance (now often called fraudulent transfer) until a 'final final' arbitration award is issued (which, in Germany at least, can take a long time, as we now know), the statute of limitations governing such a suit may have expired.
Legal rules that provide incentives and remedies include, in addition to those mentioned above, rules on fraudulent conveyance law and lender liability as well as legal capital rules and fiduciary duties to creditors.
Nordberg, the Supreme Court decided that, while Congress had decided fraudulent conveyance actions to be "core" proceedings, the Seventh Amendment still applied to such claims.
We're not concerned about fraudulent conveyance in regards to the sale of our IP portfolio.
Bondholders, led by Aurelius Capital Management LP, argued the information is material to their plan to attempt to recover as much money as possible from the LBO, as a court examiner last summer opined that at least one part of the LBO was probably a fraudulent conveyance.
Finally, Chesapeake argued that intercompany transfers of the distributed debt proceeds could be subject to fraudulent conveyance claims and that such potential claims exposed Wisco and its affiliates to a risk of loss in excess of Wisco's net worth.
Jurisdictions considered most favorable as a situs for APTs do not recognize foreign judgments (thereby forcing a retrial of claims), have weakened or no fraudulent conveyance laws, and permit a trust settlor to retain trust powers and benefits without subjecting the trust to the claims of creditors.