Bankruptcy Law definition: Copy, customize, and use instantly
Introduction
The term "Bankruptcy Law" refers to the body of laws and regulations governing the process through which individuals or entities unable to repay their debts can seek relief. It is essential for determining how debts are handled, who is entitled to repayment, and the procedures for liquidation or reorganization of assets. This term can be used to specify obligations or define rights in contracts where bankruptcy is a factor.
Below are various examples of how "Bankruptcy Law" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Bankruptcy Law" as a legal framework
This definition ties "Bankruptcy Law" to the set of statutes that govern bankruptcy proceedings.
"Bankruptcy Law" means the applicable statutes and regulations that govern the processes for filing for bankruptcy, including both liquidation and reorganization, as set forth by federal and state authorities.
Definition of "Bankruptcy Law" as a system of creditor and debtor rights
This definition connects "Bankruptcy Law" to the legal protections provided to both creditors and debtors in bankruptcy proceedings.
"Bankruptcy Law" refers to the body of law that outlines the rights of debtors and creditors, including the process by which debts are discharged, restructured, or otherwise managed under legal oversight.
Definition of "Bankruptcy Law" as related to corporate insolvency
This definition links "Bankruptcy Law" to the rules governing business insolvency and reorganization.
"Bankruptcy Law" means the legal framework applicable to corporate entities undergoing insolvency, liquidation, or reorganization under Chapter 7, Chapter 11, or other relevant sections of the United States Bankruptcy Code.
Definition of "Bankruptcy Law" as governing the discharge of debts
This definition applies "Bankruptcy Law" to the process by which debts may be legally forgiven.
"Bankruptcy Law" refers to the laws that govern the discharge of certain debts by individuals or corporations who have filed for bankruptcy protection under applicable federal or state laws.
Definition of "Bankruptcy Law" as applying to personal bankruptcy
This definition ties "Bankruptcy Law" to the laws governing personal debt resolution.
"Bankruptcy Law" means the set of legal provisions and procedures that govern the filing for personal bankruptcy, including Chapter 7 and Chapter 13 bankruptcies, as outlined by the U.S. Bankruptcy Code or equivalent laws in other jurisdictions.
Definition of "Bankruptcy Law" as related to debt restructuring
This definition connects "Bankruptcy Law" to the legal rules surrounding the restructuring of business or personal debt.
"Bankruptcy Law" refers to the body of law that governs the processes of debt restructuring, including Chapter 11 bankruptcy filings, where a debtor reorganizes their finances to repay creditors over time.
Definition of "Bankruptcy Law" as a method of liquidation
This definition links "Bankruptcy Law" to the process by which assets are liquidated to pay off debts.
"Bankruptcy Law" means the statutes that provide for the liquidation of assets under bankruptcy proceedings, allowing creditors to recover a portion of their outstanding debts through the sale of a debtor's assets.
Definition of "Bankruptcy Law" as providing legal protection from creditors
This definition applies "Bankruptcy Law" to its role in protecting debtors from creditor actions.
"Bankruptcy Law" refers to the legal protections that prevent creditors from pursuing further collection efforts once a debtor has filed for bankruptcy protection, including automatic stays and injunctions.
Definition of "Bankruptcy Law" as an international legal standard
This definition connects "Bankruptcy Law" to international bankruptcy procedures and agreements.
"Bankruptcy Law" means the international laws and treaties that govern cross-border insolvency proceedings, including the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards and related international agreements.
Definition of "Bankruptcy Law" as establishing a debtor's repayment plan
This definition ties "Bankruptcy Law" to the establishment of a plan for repaying creditors.
"Bankruptcy Law" refers to the legal framework under which a debtor is required to submit and adhere to a repayment plan, approved by the bankruptcy court, as part of a Chapter 13 or similar bankruptcy filing.
Definition of "Bankruptcy Law" as affecting the dischargeability of debts
This definition links "Bankruptcy Law" to its impact on whether specific debts can be discharged.
"Bankruptcy Law" refers to the body of law that determines the dischargeability of debts, specifying which debts may be forgiven or restructured under bankruptcy proceedings.
Definition of "Bankruptcy Law" as a guide to bankruptcy court jurisdiction
This definition connects "Bankruptcy Law" to the authority and jurisdiction of bankruptcy courts.
"Bankruptcy Law" means the laws that define the jurisdiction and authority of bankruptcy courts to hear cases related to the filing of bankruptcy petitions and the resolution of disputes arising within such proceedings.
Definition of "Bankruptcy Law" as a method of preventing fraud in bankruptcy
This definition applies "Bankruptcy Law" to measures designed to prevent fraudulent actions during bankruptcy.
"Bankruptcy Law" refers to the legal provisions that aim to prevent fraud in bankruptcy proceedings, including the concealment of assets and false statements made by debtors during the bankruptcy process.
Definition of "Bankruptcy Law" as applying to insolvency in different jurisdictions
This definition ties "Bankruptcy Law" to the variations of insolvency laws across different legal systems.
"Bankruptcy Law" refers to the insolvency laws applicable in the relevant jurisdiction, which may differ in terms of filing procedures, eligibility, and the treatment of assets and debts under bankruptcy filings.
Definition of "Bankruptcy Law" as addressing creditor claims
This definition connects "Bankruptcy Law" to the treatment of creditor claims in bankruptcy proceedings.
"Bankruptcy Law" means the body of law that governs the priority, classification, and treatment of creditor claims during bankruptcy proceedings, ensuring equitable distribution of the debtor's remaining assets.
Definition of "Bankruptcy Law" as related to a bankruptcy trustee's role
This definition links "Bankruptcy Law" to the duties and powers of a bankruptcy trustee.
"Bankruptcy Law" refers to the legal provisions that govern the appointment and role of a bankruptcy trustee, who is responsible for overseeing bankruptcy proceedings, managing the debtor’s estate, and distributing assets to creditors.
Definition of "Bankruptcy Law" as determining the effect of bankruptcy on contracts
This definition applies "Bankruptcy Law" to its impact on existing contracts.
"Bankruptcy Law" means the laws that determine the effect of bankruptcy filings on existing contractual obligations, including whether certain contracts may be rejected, modified, or enforced during the bankruptcy process.
Definition of "Bankruptcy Law" as regulating business bankruptcy
This definition ties "Bankruptcy Law" to its application in the context of business bankruptcy filings.
"Bankruptcy Law" refers to the laws that regulate the bankruptcy process for business entities, including corporations and partnerships, under applicable chapters of the U.S. Bankruptcy Code or other jurisdiction-specific laws.
Definition of "Bankruptcy Law" as setting the legal framework for bankruptcy discharge
This definition connects "Bankruptcy Law" to the procedures for discharging debts under bankruptcy filings.
"Bankruptcy Law" refers to the legal provisions that set forth the requirements and procedures for discharging certain types of debts in bankruptcy proceedings, including exemptions, limitations, and conditions for discharge.
Definition of "Bankruptcy Law" as a tool for debtors
This definition ties "Bankruptcy Law" to its role in providing financial relief for debtors.
"Bankruptcy Law" means the set of laws that provides individuals or businesses with a legal process to resolve unmanageable debt, either through discharge or reorganization.
Definition of "Bankruptcy Law" as applied to business liquidation
This definition connects "Bankruptcy Law" to the liquidation process for businesses.
"Bankruptcy Law" refers to the legal provisions that govern the liquidation of a business’s assets to pay off creditors when the business is no longer able to continue operations.
Definition of "Bankruptcy Law" as a means of creditor protection
This definition links "Bankruptcy Law" to its function of ensuring fair treatment of creditors.
"Bankruptcy Law" means the legal framework that ensures creditors are treated equitably during bankruptcy proceedings, facilitating the resolution of outstanding claims.
Definition of "Bankruptcy Law" as related to corporate debt restructuring
This definition applies "Bankruptcy Law" to the restructuring of business debts in financial distress.
"Bankruptcy Law" refers to the legal guidelines for corporate debtors to reorganize their financial obligations while maintaining operational control, as seen in Chapter 11 proceedings.
Definition of "Bankruptcy Law" as a means to prevent abuse in bankruptcy proceedings
This definition connects "Bankruptcy Law" to its role in preventing fraudulent practices during bankruptcy.
"Bankruptcy Law" means the provisions that address and prevent fraudulent activities, such as asset concealment or false claims, during bankruptcy filings.
Definition of "Bankruptcy Law" as a set of rules for bankruptcy court proceedings
This definition ties "Bankruptcy Law" to the procedural rules governing court actions in bankruptcy cases.
"Bankruptcy Law" refers to the body of rules that govern the conduct of bankruptcy court hearings, including filing requirements, court procedures, and timelines for actions.
Definition of "Bankruptcy Law" as a protection against creditor lawsuits
This definition links "Bankruptcy Law" to its protection of debtors from lawsuits during the bankruptcy process.
"Bankruptcy Law" means the set of legal protections that prevent creditors from initiating lawsuits against a debtor once a bankruptcy case is filed, including the automatic stay.
Definition of "Bankruptcy Law" as related to the discharge of student loan debt
This definition connects "Bankruptcy Law" to the treatment of student loan debt in bankruptcy.
"Bankruptcy Law" refers to the legal framework that governs the discharge of student loans in bankruptcy, outlining the conditions under which such debt can be forgiven.
Definition of "Bankruptcy Law" as a tool for restructuring consumer debt
This definition applies "Bankruptcy Law" to individual consumer debt restructuring.
"Bankruptcy Law" refers to the provisions under which individuals can restructure consumer debt, including credit card debt and medical bills, while adhering to a court-approved repayment plan.
Definition of "Bankruptcy Law" as affecting the priority of claims
This definition ties "Bankruptcy Law" to the ranking of creditor claims during the bankruptcy process.
"Bankruptcy Law" means the set of laws that establish the priority in which creditors' claims are satisfied, with secured creditors generally receiving payment before unsecured creditors.
Definition of "Bankruptcy Law" as applied to the reorganization of municipal debt
This definition connects "Bankruptcy Law" to the process for restructuring debt for municipalities.
"Bankruptcy Law" refers to the legal provisions under which a city or government entity can restructure its debts, including Chapter 9 bankruptcy filings for municipalities.
Definition of "Bankruptcy Law" as a means of managing distressed assets
This definition links "Bankruptcy Law" to the management and disposition of assets in bankruptcy cases.
"Bankruptcy Law" means the rules and procedures that govern the management, sale, or liquidation of a debtor’s assets during bankruptcy to ensure fair distribution to creditors.
Definition of "Bankruptcy Law" as relating to international insolvency
This definition applies "Bankruptcy Law" to cross-border insolvency matters.
"Bankruptcy Law" refers to the international legal standards and treaties governing the resolution of insolvencies that involve debtors and creditors in multiple jurisdictions.
Definition of "Bankruptcy Law" as a safeguard for post-bankruptcy operations
This definition ties "Bankruptcy Law" to the ongoing operations of a business post-bankruptcy.
"Bankruptcy Law" means the provisions that allow a business to continue operations after filing for bankruptcy, including the ability to enter into new contracts and transactions under court supervision.
Definition of "Bankruptcy Law" as related to bankruptcy trustee powers
This definition connects "Bankruptcy Law" to the powers and responsibilities of bankruptcy trustees.
"Bankruptcy Law" refers to the legal powers granted to bankruptcy trustees to manage the debtor’s estate, liquidate assets, and distribute proceeds to creditors.
Definition of "Bankruptcy Law" as applicable to government debt restructuring
This definition applies "Bankruptcy Law" to debt restructuring for government entities.
"Bankruptcy Law" means the set of regulations that govern the restructuring of sovereign or governmental debt, including agreements with international creditors or institutions.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.