Debtor Petition
/ˈdɛtər pəˈtɪʃən/
Definitions
- (n.) A formal request filed by a debtor to initiate bankruptcy proceedings under applicable law.
The debtor petition was submitted to the bankruptcy court to start reorganization.
Forms
- debtor petition
- debtor petitions
Related terms
See also
Commentary
Typically filed voluntarily by the debtor, this petition triggers the legal process for protection and debt resolution under bankruptcy statutes.
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.