Examlex
Mia is a single taxpayer with projected AGI of $255,000 in 2015.She is considering selling a long-term investment before year-end.She expects to realize a gain of $25,000.If Mia sells the investment by December 31,her 2015 taxable income will increase by $25,000.
Bankruptcy Can Continue
The process by which a debtor's assets are managed and liabilities are discharged under the bankruptcy code can proceed, despite certain obstacles or challenges.
Automatic Stay
a legal provision that temporarily halts lawsuits, foreclosures, garnishments, and all collection activities against a debtor the moment a bankruptcy petition is filed.
Order Of Relief
A court order in the context of bankruptcy proceedings that temporarily halts actions by creditors against the debtor.
Creditors' Meeting
A formal gathering of creditors of a bankrupt company to discuss matters related to the bankruptcy process.
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