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discharge in bankruptcy
(redirected from Bankruptcy discharge)

   Also found in: Financial, Wikipedia 0.01 sec.

discharge in bankruptcy n. an order given by the bankruptcy judge, at the conclusion of all legal steps in processing a bankrupt person's assets and debts, which forgives those remaining debts which cannot be paid, with certain exceptions. Debts for fraudulent or illegal actions, alimony and child support and taxes are not dischargeable and remain owed (but often not collectable if the bankrupt person has nothing). A discharge in bankruptcy is bad news for unsecured creditors. (See: bankruptcy)



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It is critical, however, that the property be foreclosed on and then taken completely out of the LLC's name before the bankruptcy discharge of the member occurs.
But we can disclose the Insolvency Service has secretly won a legal bid to have the 28-year-old's bankruptcy discharge suspended indefinitely.
However, the Insolvency Service won a suit on July 14 under which the former Atomic Kitten's bankruptcy discharge was "suspended indefinitely".
 
 
 
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