Debtor-Initiated Liquidation

Voluntary Bankruptcy - Voluntary Bankruptcy occurs when a debtor initiates bankruptcy proceedings by filing a petition with the bankruptcy court. It contrasts with Involuntary Bankruptcy, where creditors initiate the process against a debtor.

Class Information

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Identification

IRI: https://folio.openlegalstandard.org/R7qVuIk7an16npW6AGq2N1x
Label (rdfs): Voluntary Bankruptcy
Preferred Label: Debtor-Initiated Liquidation
Alternative Labels: Debtor-Initiated Bankruptcy, Self-Initiated Insolvency, Voluntary Insolvency, Voluntary Liquidation
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Definition and Examples

Definition: Voluntary Bankruptcy occurs when a debtor initiates bankruptcy proceedings by filing a petition with the bankruptcy court. It contrasts with Involuntary Bankruptcy, where creditors initiate the process against a debtor.
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Translations

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Class Relationships

Sub Class Of: Bankruptcy Initiation Type
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Additional Information

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Deprecated: False

Metadata

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