Bankruptcy Agreement
/ˈbæŋkrʌptsi əˈɡriːmənt/
Definitions
- (n.) A legally binding contract between a debtor and creditors outlining the terms of debt repayment or discharge during bankruptcy proceedings.
The debtor entered into a bankruptcy agreement to settle outstanding debts under court supervision.
Forms
- bankruptcy agreement
- bankruptcy agreements
Related terms
See also
Commentary
Often governed by statutory frameworks, bankruptcy agreements must be approved by the court or creditors to be enforceable.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.