voluntary proceedings

voluntary proceedings
A proceeding under the Bankruptcy Code by which a debtor initiates action either to rehabilitate his business (e.g., Chapter 11 reorganization) or to liquidate (e.g., Chapter 7 liquidation).

Black's law dictionary. . 1990.

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  • voluntary proceedings — A proceeding under the Bankruptcy Code by which a debtor initiates action either to rehabilitate his business (e.g., Chapter 11 reorganization) or to liquidate (e.g., Chapter 7 liquidation) …   Black's law dictionary

  • voluntary — Unconstrained by interference; unimpelled by another s influence; spontaneous; acting of oneself. Coker v. State, 199 Ga. 20, 33 S.E.2d 171, 174. Done by design or intention. Proceeding from the free and unrestrained will of the person. Produced… …   Black's law dictionary

  • voluntary liquidation — liquidation proceedings that are supported by a company s shareholders. Bloomberg Financial Dictionary Usually relates to an insolvent company and is started by a resolution of its shareholders. HM Customs & Revenue Glossary * * * voluntary… …   Financial and business terms

  • voluntary assignment — An assignment for the benefit of his creditors made by a debtor voluntarily, as distinguished from a compulsory assignment which takes place by operation of law in proceedings in bankruptcy. Such constitutes an assignment of a debtor s property… …   Black's law dictionary

  • voluntary assignment — An assignment for the benefit of his creditors made by a debtor voluntarily, as distinguished from a compulsory assignment which takes place by operation of law in proceedings in bankruptcy. Such constitutes an assignment of a debtor s property… …   Black's law dictionary

  • bankruptcy proceedings — General term for the various types of proceedings under the Bankruptcy Code (11 U.S.C.A.) that are initiated either by an insolvent individual or business (termed a voluntary bankruptcy) or by creditors (termed an involuntary bankruptcy) seeking… …   Black's law dictionary

  • bankruptcy proceedings — General term for the various types of proceedings under the Bankruptcy Code (11 U.S.C.A.) that are initiated either by an insolvent individual or business (termed a voluntary bankruptcy) or by creditors (termed an involuntary bankruptcy) seeking… …   Black's law dictionary

  • bankruptcy proceedings — The way a bankruptcy case wends its way through the court system, from the time the bankruptcy petition is filed until the debtor receives a bankruptcy discharge. Category: Bankruptcy, Foreclosure & Debt → Bankruptcy Nolo’s Plain English Law… …   Law dictionary

  • company insolvency proceedings — there are four types of insolvency proceedings that govern the affairs of insolvent companies: voluntary arrangements under Part I of the Insolvency Act 1986; administration orders under Part II; receivership under Part III; and winding up under… …   Law dictionary

  • bankruptcy — /bangk rupt see, reuhp see/, n., pl. bankruptcies. 1. the state of being or becoming bankrupt. 2. utter ruin, failure, depletion, or the like. [1690 1700; BANKRUPT + CY] * * * Status of a debtor who has been declared by judicial process to be… …   Universalium

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