notorious insolvency

Scots law. A bankruptcy; the stage of insolvency in which the debtor has publicly acknowledged insolvency under the statute.

• This stage is usu. followed by sequestration, which is notorious insolvency coupled with the appointment of a trustee for creditors.

— Also termed notour bankruptcy.

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词条贡献者

资深译员Steven，毕业于美国一流的高级翻译学院，专注翻译各种与政府政策有关的法律文件。