Category: Bankruptcy
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Bankrupt
Definition of Bankrupt This amounts to insolvency i.e. Being unable to pay your creditors.
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Bankruptcy Preliminary Proceedings
History Petition and Receiving Order Any court exercising bankruptcy jurisdiction in the district in which he resides or carries on business in England or Wales may make a receiving order against a debtor, whether a trader or not, either on his own petition or on that of a creditor or […]
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Debt
Definition of Debt In accordance with the work A Dictionary of Law, this is a description of Debt : 1. A sum of money owed by one person or group to another. 2. The obligation to pay a sum of money owed. History Debt (Lat. debitum, a thing owed), a definite sum due by one…
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Divisible Contract
Definition of Divisible Contract A contract which contains agreements which can be separated one from the other. Property divisible among the Creditors in Bankruptcy No part of the law of bankruptcy is more intricate, or has been the subject of more litigation than this, and any […]
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Fraud Investigation
Fraud Investigations by the Serious and Organised Crime Agency There is more information about this section in the entry about Fraud Investigations by the Serious and Organised Crime Agency in this legal Encyclopedia. Serious Fraud Offices Investigations and Prosecutions There is more […]
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Trustee
Definition of Trustee A trustee is someone who holds property on trust for another (the beneficiary). Trustee’s Administration in Bankruptcy While the interim preservation and management of the estate is conducted by or under the direct supervision of officers appointed by and […]
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Trustee
Definition of Trustee A trustee is someone who holds property on trust for another (the beneficiary). Trustee’s Administration in Bankruptcy While the interim preservation and management of the estate is conducted by or under the direct supervision of officers appointed by and […]
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Bankruptcy Petition
Definition of Bankruptcy Petition In accordance with the work A Dictionary of Law, this is a description of Bankruptcy Petition : An application to the High Court or a county court for a *bankruptcy order to be made against an insolvent debtor. See bankruptcy.
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Bankruptcy Order
Definition of Bankruptcy Order In accordance with the work A Dictionary of Law, this is a description of Bankruptcy Order : A court order that makes a debtor bankrupt. When the order is made, ownership of all the debtor's property is transferred either to a court officer known as the […]
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Bankruptcy Order
Definition of Bankruptcy Order In accordance with the work A Dictionary of Law, this is a description of Bankruptcy Order : A court order that makes a debtor bankrupt. When the order is made, ownership of all the debtor's property is transferred either to a court officer known as the […]
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Insolvency Law
Resources See Also Further Reading Insolvency Law in the Encyclopedia of Britain Insolvency Law in the Osborn's Concise Law Dictionary Insolvency Law in the Halsbury's Laws of England Insolvency Law in the Stroud's Judicial Dictionary of Words and Phrases Insolvency Law in the […]
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Act of bankruptcy
Act of bankruptcy in the Business Encyclopaedia and Legal Adviser Based on the Business Encyclopaedia and Legal Adviser , by W.S.M. Knight, Barrister –at – Law. A person becomes a bankrupt only after petition to the Court. The petition may be presented by the debtor himself or by the […]
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Small Bankruptcies
History When the official receiver reports, or the court is otherwise satisfied that the debtor’s property is not likely to realize more than £300, the court may make an order for the summary administration of the estate, in which case, if the debtor is adjudged bankrupt, the official […]