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Today's Terms
Bankruptcy Court
Definition:
The federal tribunal where cases under the Bankruptcy Code are litigated.
Skeleton filing
Definition:
Term used at bankruptcy courts to describe a bankruptcy filing in which not all the necessary forms have been filed. Certain courts allow a case to commence if only certain important forms are filed so long as the balance of required forms are forthcoming within a certain period of time.
Liquidation value
Definition:
The aggregate value of a business if its assets are sold piecemeal.
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