Bankruptcy Law
/ˈbæŋkrʌptsi lɔː/
Definitions
- (n.) The body of law governing the process by which individuals or entities unable to meet financial obligations may seek relief through court-ordered debt discharge or reorganization.
The bankruptcy law provides a legal framework for debt restructuring and creditor protection.
Forms
- bankruptcy law
- bankruptcy laws
Related terms
See also
Commentary
Bankruptcy law is primarily statutory and procedural, often requiring precise drafting to ensure clarity in the classification of debts and obligations.
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.