Bankruptcy
Legal definition for Indian law research
Definition
Bankruptcy, refers to proceedings of which bankruptcy was the principal subject-matter and does not include a property claim brought by a trustee in bankruptcy in respect of bankrupt's assets vested in him; and that, accordingly, the proceedings were not excluded, Ashourst v. Pollard, (2000) 1 WLR 722 (CA).
Bankruptcy, is the statutory procedure usually triggered by insolvency by which a person is relieved of most debts and undergoes a judicially supervised reorganization or liquidator for the benefit of that person's creditors, Black Law Dictionary, 7th Edn., p. 141.
Bankruptcy, is the statutory procedure usually triggered by insolvency by which a person is relieved of most debts and undergoes a judicially supervised reorganization or liquidator for the benefit of that person's creditors, Black Law Dictionary, 7th Edn., p. 141.
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.