Automatic Stay
Barron's Business Dictionary:
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Automatic Stay
The hold that a bankruptcy petition puts on all actions against a debtor, including sending demands for payment, filing a lawsuit, and repossession or foreclosure actions.
| Automatic Extension, Automatic Checkoff, Automatic (Fiscal) Stabilizers | |
| Automatic Withdrawal, Automation, Automobile Liability Insurance |
Investopedia Financial Dictionary:
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Automatic Stay
A provision under the U.S. Bankruptcy Code prohibiting creditors from beginning or continuing proceedings for collecting owed amounts from a firm who files for bankruptcy under Chapter 11.
Investopedia Says:
An automatic stay can only be lifted by the bankruptcy judge.
Related Links:
If a company files for bankruptcy, stockholders have the most to lose. Find out why. An Overview Of Corporate Bankruptcy
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Copyrights:
Barron's Business Dictionary
Dictionary of Business Terms. Copyright © 2007 by Barron's Educational Series, Inc. All rights reserved.
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Mentioned in
Petition in Bankruptcy
(business term)
Voluntary Bankruptcy
(in banking)
Bankruptcy
(legal term)
Stay
(legal term)
» More