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voluntary bankruptcy |
Also found in: Medical, Financial, Encyclopedia, Wikipedia, Hutchinson | 0.07 sec. |
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voluntary bankruptcy n. the filing for bankruptcy by a debtor who believes he/she/it cannot pay bills and has more debts than assets. Voluntary bankruptcy differs from "involuntary bankruptcy" filed by creditors owed money to bring the debtor before the bankruptcy court. (See: bankruptcy) |
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? References in periodicals archive |
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the nation's largest movie theater chain, emerged from voluntary bankruptcy protection Wednesday with its chairman poised to head an even larger consolidated group. which filed a voluntary bankruptcy petition in October 2000. In 1994, he and his law firm filed for voluntary bankruptcy under chapter 11. |
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voluntary bankruptcy
