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.

IRI: http://lmss.sali.org/R7qVuIk7an16npW6AGq2N1x
Branch: Service

Also known as

Debtor-Initiated Liquidation, Debtor-Initiated Bankruptcy, Self-Initiated Insolvency, Voluntary Insolvency, Voluntary Liquidation

Ancestry path

Service Bankruptcy and Financial Restructuring Practice Bankruptcy Initiation Type

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