A legal action which leads to the control of the property of an insolvent debtor for the benefit of creditors. After the court has appointed a receiver, the debtor can make an offer to his or her...

Every society must resolve the tension between debtors and creditors, especially if the debtors cannot pay or cannot pay quickly enough. Many of the world's religions have condemned lending money for interest, at least among co-religionists. In...

Bankruptcy law was created initially to enable persons inundated with debt to have a new beginning. It is also designed to permit individuals and business entities to have additional time to pay and compromise existing debts without liquidating all...

Bankruptcy is a legally declared inability or impairment of ability of an individual or organizations to pay their creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what...

BANKRUPTCY Fair bill provides help to those in real need Thursday, March 29, 2001 The bankruptcy reform legislation passed by the House and Senate earlier this month is far from flawed as a March 23 editorial claims ("A flawed bankruptcy bill")....

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American Home Mortgage Investment Corp. filed for bankruptcy protection on Monday and two other mortgage lenders said they were not accepting new applications, signs that the worst housing crunch in decades could be widening.American Home Mortgage, based in Melville, N.Y., and once the nation's 10th...

MAXjet Airways has ceased operations — leaving jets on tarmacs and stranding passengers over the holiday — as the all-business class airline said it would file for bankruptcy protection.MAXjet cited soaring fuel prices and the deteriorating credit market for what it called a "drastic measure."...