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Simple English definitions for legal terms

prebankruptcy

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A quick definition of prebankruptcy:

Term: PREBANKRUPTCY

Definition: Prebankruptcy refers to actions or events that take place before a person or company files for bankruptcy. This can include financial transactions, such as selling assets or paying off debts, that may impact the bankruptcy case. Essentially, prebankruptcy refers to anything that happens before the official start of the bankruptcy process.

A more thorough explanation:

PREBANKRUPTCY

Prebankruptcy is an adjective used to describe something that happens before a person or company files for bankruptcy. For example, prebankruptcy transactions refer to any financial transactions that occur before the bankruptcy filing.

A company may sell off assets in a prebankruptcy sale to raise money before filing for bankruptcy.
A person may try to negotiate with creditors in a prebankruptcy settlement to avoid filing for bankruptcy.

These examples illustrate how prebankruptcy actions can be taken to try to avoid or prepare for a bankruptcy filing. They also show how financial transactions and negotiations can occur before the actual filing of bankruptcy.

preaudience | prebend

General

General chat about the legal profession.

General >T14 Off Topic

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Mostlylegal

11:11

@EvolBunny: im a uki

babycat

11:11

terrible admin

BulbasaurNoLikeCardio

11:11

@babycat: I wonder why gtown felt what they said was a good idea and how secure that individual felt in their job to believe there would be no backlash.

Dkk

11:11

please, tell me more about Europa: The Last Battle @MostlyLegal

Mostlylegal

11:11

nothing you dont already know

Dkk

11:12

Lmfao, damn out of messages again. Time to go sit in the hot tub.

EvolBunny

11:12

@BulbasaurNoLikeCardio: honestly fuck these schools

EvolBunny

11:12

The way they act is so cringe and gives mad ick

babycat

11:12

@BulbasaurNoLikeCardio: people are saying this has been a pattern with them

babycat

11:12

imagine being a religious school and not supporting mothers. practice what you preach!

EvolBunny

11:12

Fuck dem hoes

Mostlylegal

11:13

Child bearing people*

Mostlylegal

11:13

i cant spell fuck dont correct me

EvolBunny

11:15

Anywayyyyy, i think today i will withdraw all my apps

EvolBunny

11:15

This lsat is not doing it

babycat

11:15

lol live ur truth

Mostlylegal

11:15

ASU at 154 is damn good

Mostlylegal

11:15

154 scholly

BulbasaurNoLikeCardio

11:15

It is shitty that was a pattern of behavior but I am glad someone is finally standing up for themselves. Like I can be a pretty rigid butthole guy when it comes to getting stuff but a complete lack of empathy or situational awareness shown by the school and their staff is mind blowing. When I was talking about it in the office they all thought I was lying cause it sounds so crazy.

Dkk

11:16

@babycat: ahh link me something. Idk what you are talking about with GTown and mothers and all that.

renard99

11:16

Idk if any of you watch UFC but one time interim heavyweight champ Tom Aspinall won a fight and said on the mic afterwards “if you feel scared to do something, that’s a pretty good sign you should just go fucking do it” and I believe that applies very much to people wondering if they should R&R. Sure you can but why not just see what happens now?

babycat

11:16

School fucked up so bad they got hellwoods to sign a petition

Mostlylegal

11:16

Ive also heard their career center is awful too, I think its why it will never be anything but 14-15

JumpySubsequentDolphin

11:17

@Dkk: i think a law student was pregnant and due to give birth a few days before finals and they refused to accomodate her

babycat

11:17

@Dkk: https://www.reddit.com/r/LawSchool/s/52TFGp7T5k

JumpySubsequentDolphin

11:17

accommodate*

EvolBunny

11:17

@Mostlylegal: yeah and i was thinking fuck it just go party for three years but i got other options and need to start building, top law schools were worth that 3 year pause but i am not sure i can do that for asu and their outcomes

Mostlylegal

11:19

Also I just got diagnosed with ADHD is it stupid if I dont take the test again now that Im medicated?

Dkk

11:19

She offered to take it early? Should have given her that one. Remote I can understand saying no to but taking it early, yes.

babycat

11:20

big things coming for babycat. I own a resistance band now

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