involuntary case

involuntary case: Creditors of a debtor may petition the court to force the debtor into a bankruptcy proceeding. This may also be referred to as a creditors' petition. If the debtor has 12 or more creditors, the petition must be filed by three or more creditors whose claims total at least $12,300.

If the debtor has fewer than 12 creditors, a single creditor whose claim is at least $12,300 may petition the debtor into bankruptcy. After the filing of the petition, the debtor is given an opportunity to contest the filing. If the creditors are successful, an order for relief is entered and the case proceeds substantially like any other bankruptcy case. Creditors may choose to file an involuntary case under Chapter 7 or Chapter 11. (Bernstein's Dictionary of Bankruptcy Terminology)

involuntary case: Creditors of a debtor may petition the court to force the debtor into a bankruptcy proceeding. This may also be referred to as a creditors' petition. If the debtor has 12 or more creditors, the petition must be filed by three or more creditors whose claims total at least $12,300. If the debtor has fewer than 12 creditors, a single creditor whose claim is at least $12,300 may petition the debtor into bankruptcy. After the filing of the petition, the debtor is given an opportunity to contest the filing. If the creditors are successful, an order for relief is entered and the case proceeds substantially like any other bankruptcy case. Creditors may choose to file an involuntary case under Chapter 7 or Chapter 11.

Glossary of Bankruptcy.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

Involuntary dismissal — is the termination of a court case despite the plaintiff s objection. In United States Federal courts, involuntary dismissal is governed by Federal Rules of Civil Procedure (FRCP) Rule 41(b). Involuntary dismissal is made by a defendant through a … Wikipedia
Involuntary treatment — (also referred to by proponents as assisted treatment and by critics as forced drugging) refers to medical treatment undertaken without a person s consent. In almost all circumstances, involuntary treatment refers to psychiatric treatment… … Wikipedia
Involuntary servitude — is a United States legal and constitutional term for a person laboring against that person s will to benefit another, under some form of coercion. While laboring to benefit another occurs in the condition of slavery, involuntary servitude does… … Wikipedia
involuntary petition — USA A bankruptcy petition filed by creditors, usually to force a debtor to enter a liquidation proceeding under Chapter 7. The debtor can contest the petition and can choose to convert it into a case under Chapter 11. When a debtor contests an… … Law dictionary
Involuntary commitment — For involuntary treatment in non hospital settings, see involuntary treatment. Involuntary commitment or civil commitment is a legal process through which an individual with symptoms of severe mental illness is court ordered into treatment in a… … Wikipedia
Involuntary Bankruptcy — A legal proceeding in which a person or business is requested to go into bankruptcy by creditors, rather than on the person or business own accord. Creditors seeking involuntary bankruptcy must petition the court to initiate the proceedings, and… … Investment dictionary
Case Information Statement — Civil procedure in the United States Federal Rules of Civil Procedure Doctrines of civil procedure Jurisdiction Subject matter jurisdiction Diversity jurisdiction Personal jurisdiction Removal jurisdiction Venue Change of venue … Wikipedia
involuntary discontinuance — The forcing of a case out of court for some error in pleading, technical omission, etc., better called an involuntary dismissal. Hunt v Griffin, 49 Miss 742 … Ballentine's law dictionary
involuntary dismissal — The dismissal of an action on motion by the defendant. 24 Am J2d Dism § 53. The ultimate dismissal by a judgment against the plaintiff upon the verdict of the jury or the decision of the court in a case tried to the court … Ballentine's law dictionary
voluntary case — A voluntary bankruptcy proceeding. also see involuntary case (Bernstein s Dictionary of Bankruptcy Terminology) United Glossary of Bankruptcy Terms 2012. voluntary case … Glossary of Bankruptcy

Academic Dictionaries and Encyclopedias

involuntary case

Look at other dictionaries:

Share the article and excerpts

Academic Dictionaries and Encyclopedias

Glossary of Bankruptcy

involuntary case

Look at other dictionaries:

Share the article and excerpts

Direct link