petition in bankruptcy

petition in bankruptcy. A formal written request, presented to a bankruptcy court, seeking protection for an insolvent debtor. • The debtor (in a voluntary bankruptcy) or the debtor’s creditors (in an involuntary bankruptcy) can file such a petition to initiate a bankruptcy proceeding. [Cases: Bankruptcy 2257, 2290. C.J.S. Bankruptcy §§ 51, 57.]

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词条贡献者

译员Joanne，亚洲顶尖法学院国际贸易专业，专注翻译各种与复杂国际贸易有关的法律文件。