Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Define automatic stay (in bankruptcy)
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Step 1
The bankruptcy is a legal proceeding on the individuals and the companies that are not able to pay the debts. It is imposed by the order of the court and the petition is generally filed by the organizations and people who are bankrupt to get relief from the court. In bankruptcy, assets related to the organizations and people are valued and the debts are repaid in the proportion of total assets revalued.
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