FRESH START

fresh start

glossary /

fresh start. Bankruptcy. The favorable financial status obtained by a debtor who receives a release from personal liability on prepetition debts or who reorganizes debt obligations through the confirmation and completion of a bankruptcy plan. [Cases: Bankruptcy 2363. 1.]

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fresh start

glossary / ,

fresh start 〈美〉重新开始 根据《联邦破产法》〔Federal Bankruptcy Act〕，破产债务人被免除了先前的债务后，允许其重新开始。然而，并非所有债务在破产中均可免除，1978年《破产改革法》〔Bankruptcy Reform Act〕规定，有九类债务在破产程序结束后仍需承担清偿责任。

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