Bankruptcy Court Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Bankruptcy Court, written in plain English, along with examples of how it is used.

What is Bankruptcy Court?

(n) Bankruptcy Court is legal authority who can hear and decide on petitions from persons or business entities requesting them to be declared as bankrupt when their liabilities exceeds the assets and properties owned by them and such entity has no means to settle the dues to their creditors fully.