Bankruptcy Order
/ˈbæŋkrʌptsi ˈɔːrdər/
Definitions
- (n.) A court order that formally places an individual or entity into bankruptcy, initiating the legal process for the administration of their insolvent estate.
The court issued a bankruptcy order against the debtor after reviewing the petition.
Forms
- bankruptcy order
- bankruptcy orders
Related terms
See also
Commentary
A bankruptcy order is distinct from an insolvency order in some jurisdictions; it formally starts bankruptcy proceedings and affects the debtor's legal status and estate.
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.