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involuntary bankruptcy bankruptcy-law
What is involuntary bankruptcy?
Creditors, rather than the debtor, file the petition in bankruptcy. It is very unusual for the creditors of a consumer debtor to file an involuntary petition, by the way. Involuntary petitions are rare, however, occasionally used in business settings to force a company into bankruptcy so that creditors can enforce their rights.
(Reviewed 11.10.08)
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