petition in bankruptcy

petition in bankruptcy
A document filed in a court of bankruptcy or with a clerk thereof initiating a proceeding under the Bankruptcy Act. Bankr Act § 1(24); 11 USC § 1(24). A pleading in effect. Royal Indem. Co. v American Bond & Mortgage Co. 289 US 165, 77 L Ed 1100, 53 S Ct 551.

Ballentine's law dictionary. . 1998.

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  • petition in bankruptcy — A document filed in a specialized federal court to commence a proceeding to provide a means by which a debtor who is unwilling or financially unable to pay personal debts will satisfy the claims of his or her creditors as they come due.… …   Law dictionary

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  • Bankruptcy Reform Act of 1978 — the first substantive bankruptcy code revision since the Chandler Act of 1938. It took effect on October 1, 1979 and some of the major elements of this act were as follows: upgrading the jurisdiction of the U.S. bankruptcy courts to deal with… …   Glossary of Bankruptcy

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  • petition for relief — (or bankruptcy petition or petition) the document that commences a bankruptcy proceeding; the document filed with the court to initiate a bankruptcy proceeding. (Common Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

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