Bankruptcy. A creditor who extends credit to, lends money to, or has a claim arise against the debtor in the period between the filing of an involuntary bankruptcy petition and the entry of the order for relief. • Under the Bankruptcy Code, a gap creditor’s claim receives second priority, immediately below administrative claims. 11 USCA […]
waiver of service. A defendant’s voluntary submission to the jurisdiction made by signing an acknowledgment of receipt of the petition and stating that he or she waives all further service.
gap period. Bankruptcy. The duration of time between the filing of an involuntary bankruptcy petition and the entry of the order for relief. — Often shortened to gap. [Cases: Bankruptcy 2281. C.J.S. Bankruptcy § 56.]
bankruptcy-remote entity. A business entity formed in a manner designed to minimize the risk of becoming a debtor in a bankruptcy case. • The entity’s organizational charter usu. requires at least one independent director to be appointed, as well as a unanimous vote by the entity’s directors, before a bankruptcy petition may be filed. The
bankruptcy remote entity Read More »
Bankruptcy. The filing date of a voluntary-bankruptcy petition. • With a few exceptions, only the debts existing at this time are dischargeable.
reconciliation (rek-[schwa]n-sil-ee-ay-sh[schwa]n), n. 1. Restoration of harmony between persons or things that had been in conflict (a reconciliation between the plaintiff and the defendant is unlikely even if the lawsuit settles before trial). 2. Family law. Voluntary resumption, after a separation, of full marital relations between spouses (the court dismissed the divorce petition after the
willful, adj. Voluntary and intentional, but not necessarily malicious. — Sometimes spelled wilful. Cf. WANTON. — willfulness, n. “The word ‘wilful’ or ‘wilfully’ when used in the definition of a crime, it has been said time and again, means only intentionally or purposely as distinguished from accidentally or negligently and does not require any actual
bankruptcy proceedings 破产程序 在美国，破产程序可以由债务人提起，称为自愿破产；也可以由债权人提起，称为非自愿破产。破产开始后，法院可以组织对债务人的剩余资产进行清算并分配给债权人，从而彻底免除债务人的债务；或者对债务人进行重整，允许其继续从事经营活动，以其经营所得来偿还债务，从而避免破产。在英国，破产申请可以由债权人、债务人、自愿和解协议的监督人〔supervisor of a voluntary arrangement〕或当事人、官方申请人〔official petitioner〕等提起，法院根据破产申请作出接管令〔receiving order〕，将债务人的财产置于官方接管人〔official receiver〕的控制之下。接管人应召集债权人会议，要求债务人提交财产状况报告〔statement of affairs〕,就债务人资不抵债的原因进行公开调查，然后，法院将发布破产令〔bankruptcy order〕,官方接管人将成为破产财产管理人〔trustee in bankruptcy〕(债权人另行指定破产财产管理人的除外)。破产财产管理人必须占有并收回或实现所有属于破产人的资产。债权人应就自己的债权向破产财产管理人提供证明。最后由破产财产管理人将债务人的财产按法定顺序分配给经其确认了的债权人。
bankruptcy proceedings Read More »