automatic stay

automatic stay definition - business

automatic stay

In bankruptcy, temporary protection of a debtor from creditors, subject to the oversight of the bankruptcy judge. A stay protects the debtor against garnishments, foreclosure sales, repossessions, and lawsuits.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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