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involuntary bankruptcy

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Financial Dictionary

involuntary bankruptcy

Bankruptcy that is forced by creditors instead of being initiated by the firm or individual. Compare voluntary bankruptcy. See also Chapter 7, Chapter 11.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary

Main Entry: involuntary bankruptcy
Function: noun
: bankruptcy declared upon petition of creditors —see also BANKRUPTCY
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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