Meaning of “bankruptcy petition” in the English Dictionary

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"bankruptcy petition" in Business English

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bankruptcy petitionnoun [ C ]

uk us

LAW, FINANCE a formal letter to a court asking that a person or company be declared bankrupt:

The latest bankruptcy petition was filed April 14.
Lawyers are considering an involuntary bankruptcy petition against the firm.

(Definition of “bankruptcy petition” from the Cambridge Business English Dictionary © Cambridge University Press)