Act of Bankruptcy

Definition:

An action by a debtor that can be a basis for creditors to file a bankruptcy petition against the debtor. Examples of such actions are concealing assets, defrauding creditors, favoring one creditor over another, or admitting in written a willingness to be adjudged bankrupt.

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

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Reverse shell merger

Acquisition of a publically listed shell company by a privately held company effectively making itself publically listed. Also see Going public through the backdoor..

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