act of bankruptcy

act of bankruptcy. An event, such as a debtor’s fraudulent conveyance of property, that triggers an involuntary bankruptcy proceeding against a debtor. • The 1978 Bankruptcy Reform Act abolished this requirement as a condition to an involuntary bankruptcy proceeding. [Cases: Bankruptcy 2281. C.J.S. Bankruptcy § 56.]

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词条贡献者

双语律师Andrew，欧洲名校国际税法专业，擅长翻译各类与国际税法相关的法律文件。