Bankruptcy Act of 1898
Bankruptcy Act of 1898
the basis of the federal bankruptcy statutes used until the Bankruptcy Reform Act of 1978. It provided primarily for liquidation of companies; reorganization could be affected indirectly under the 1898 Act through equity receiverships (these were used to keep creditors from seizing the assets of distressed companies) (Glossary of Common Bankruptcy Terms)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

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  • Bankruptcy Act of 1898 — The Bankruptcy Act of 1898 ( Nelson Act , July 1, 1898, ch. 541, 30 Stat. 544) was the first United States Act of Congress involving Bankruptcy that gave companies an option of being protected from creditors. Previous attempts at… …   Wikipedia

  • Bankruptcy Reform Act of 1978 — The Bankruptcy Reform Act of 1978 (USPL|95|598, USStat|92|2549, November 6, 1978) is a United States Act of Congress regulating Bankruptcy.The current Bankruptcy Code was enacted in 1978 by § 101 of the Act which generally became effective on… …   Wikipedia

  • Bankruptcy Act — Many statutes have been known as the Bankruptcy Act.* Bankruptcy Act of 1841 – ch. 9, USStat|5|440, 1841 04 19 * Bankruptcy Act of 1898 – Nelson Act, July 1, 1898, ch. 541, USStat|30|544) * Bankruptcy Reform Act of 1978 –… …   Wikipedia

  • Bankruptcy Act — A national bankruptcy act. There have been four of such acts in the United States, effective respectively in 1800, 1841, 1867, and 1898. The last of these is the present Bankruptcy Act, although some have regarded the Amendatory Act of 1938,… …   Ballentine's law dictionary

  • Chandler Act of 1938 — legislation providing substantial modifications to the Bankruptcy Act of 1898 (Glossary of Common Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • Bankruptcy Code — A federal law (11 U.S.C.A.) for the benefit and relief of creditors and their debtors in cases in which the latter are unable or unwilling to pay their debts. The Bankruptcy Code of 1978 substantially revised and replaced the Bankruptcy Act of… …   Black's law dictionary

  • Bankruptcy Code — A federal law (11 U.S.C.A.) for the benefit and relief of creditors and their debtors in cases in which the latter are unable or unwilling to pay their debts. The Bankruptcy Code of 1978 substantially revised and replaced the Bankruptcy Act of… …   Black's law dictionary

  • bankruptcy court — n: a court that is a unit of a federal District Court and has original jurisdiction over bankruptcy cases ◇ Bankruptcy courts were created by Congress as part of the 1898 Bankruptcy Act. Article I, Section 8 of the U.S. Constitution gives… …   Law dictionary

  • Bankruptcy in the United States — The United States Constitution (Article 1, Section 8, Clause 4) authorizes Congress to enact uniform Laws on the subject of Bankruptcies throughout the United States. Congress has exercised this authority several times since 1801, most recently… …   Wikipedia

  • Referee in Bankruptcy — A Referee in Bankruptcy or Bankruptcy Referee is a federal official with quasi judicial powers, appointed by a United States district court to administer bankruptcy proceedings. The office was first created by the Bankruptcy Act of 1898, and was… …   Wikipedia

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