Definitions for "Business Bankruptcy"
A proceeding under the Bankruptcy Code filed by a business entity.
a bankruptcy (under federal legislation) which is chiefly attributable to the liabilities incurred as a result of the carrying on of a commercial venture or business and includes proprietorships, partnerships and Limited Companies
This type of bankruptcy occurs when business related debts cannot be paid and the business or individual defaults or files for bankruptcy. The debtor can be a business or an individual involved in a business.