discharge in bankruptcy - Business Definition
The American Heritage® Dictionary of Business Terms Copyright © 2010 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
Release of a debtor from certain debts set forth in the Bankruptcy Code. Creditors of discharged debt are prohibited from taking any actions against the debtor to collect the debts.
discharge in bankruptcy - Legal Definition
Webster's New World Law Dictionary Copyright © 2010 by Wiley Publishing, Inc., Hoboken, New Jersey.
The release of a debtor from his obligation to pay all or part of his debts, upon the adjudication of a bankruptcy court.
Used by arrangement with John Wiley & Sons, Inc.