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LSDefine

Simple English definitions for legal terms

bankruptcy proceeding

Read a random definition: ex officio member

A quick definition of bankruptcy proceeding:

A bankruptcy proceeding is a legal process that happens when someone cannot pay their debts. It involves going to court and having a judge decide how to handle the debts. This can include selling assets to pay off creditors or creating a payment plan.

A more thorough explanation:

Definition: A bankruptcy proceeding is a legal process that occurs when an individual or business is unable to pay their debts. It involves a court case where a judge decides how to handle the debts and assets of the bankrupt entity.

Examples:

  • John filed for bankruptcy and is now going through a bankruptcy proceeding in court.
  • The bankruptcy proceeding for the company lasted several months and involved selling off assets to pay creditors.

These examples illustrate how a bankruptcy proceeding is a legal process that occurs when someone is unable to pay their debts. In both cases, the individuals are going through a court case where a judge is deciding how to handle their debts and assets. The bankruptcy proceeding can involve selling off assets to pay creditors, as seen in the second example.

bankruptcy plan | bankruptcy-remote entity

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babycat
15:59
Only people they're seriously considering
I did! Don't wanna dox myself. But essentially my PS was about a situation with my parents n going thru college completely independently. Wrote ab family in Chicago who provided me with a home during some turbulent times. I thought it was a decent Why Chicago
But maybe not lmao
@texaslawhopefully: aw im sorry to hear tht. i also rsn out of messages AGAIN AND I JUST GOT HERE...im asking cuz i cant find something on the app tht i thought maybe one of yall knew.
@ImpartialLion: yeah, that does sound good. I'm sure will get a II soon
mine was very generic and we have similar numbers
babycat
16:02
I like that Chicago specifically says don't recite shit from our website
I'm hoping so. I feel like my PS might've been too personal or too whiney. I feel like it either hits or totally whiffs depending on who reads it
UVA loved it, but HLS and Chicago don't seem to love it as much
hey UVA hates me, so the process is fairly random
babycat
16:04
end of cycle everyone posts their PS
It's so random.
babycat
16:04
it's like flashing
@babycat: FRRR
Create a google folder and throw that shit in
I will probably add a link to all my materials end of cycle
I never thought about it but I think I will too
16:05
GULC would be about 5:30 right
JumpySubsequentDolphin
16:08
if washu admissions emails me one more time i might delete my lsac account
Dkk
16:08
Lol, the Cornell waitlist wave. Get fucked.
Dkk
16:08
That fucking sucks.
snow
16:08
lowkey im going to be optimistic. i just saw that some people applied early sept. and got II for schools in January
@JumpySubsequentDolphin: I've been tempted to put them in spam
snow
16:08
lmaooo dk
dk praying on all our downfall
Dkk
16:09
I hope you guys tell me to eat a dick when I get my R's and WL's.
praying for your success inshallah
Dkk
16:10
I want it to be brutal.
Dkk
16:10
Noooooo
JumpySubsequentDolphin
16:10
@texaslawhopefully: THEY SEND THEM TO YOU EVEN AFTER YOU GOT ACCEPTED???
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