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.

---

词条贡献者

译者Lorna，毕业于国内一流的法学院，擅长翻译各种与商业秘密相关的法律文件。