Akademik

dismissal

the termination of a bankruptcy proceeding. The bankruptcy court can dismiss a case if it deems that the debtor or three creditors should not have filed or that a plan can never be formulated (Glossary of Common Bankruptcy Terms)

An order terminating the case prior to its normal end.

Where a debtor in possession fails to cooperate with the court, the court may dismiss the case and terminate the proceedings leaving creditors free to resume collection efforts.

also see dismissal with prejudice; dismissal without prejudice (Bernstein's Dictionary of Bankruptcy Terminology)

Also see conversion. (Common Bankruptcy Terms)

The termination of a bankruptcy case prior to the issuance of a discharge. Dismissals may either be voluntary or involuntary. If a bankruptcy case is dismissed, all things revert to their status as of the time immediately preceding the filing of the bankruptcy petition (SA-Bankruptcy.com)

The termination of the case without either the entry of a discharge or a denial of discharge; after a case is dismissed, the debtor and the creditors have the same rights as they had before the bankruptcy case was commenced. Dismissal is the penalty for many essentially minor infractions of bankruptcy procedures under the 2005 amendments. (Bankruptcy in Brief)

United Glossary of Bankruptcy Terms 2012.

dismissal: An order terminating the case prior to its normal end. Where a debtor in possession fails to cooperate with the court, the court may dismiss the case and terminate the proceedings leaving creditors free to resume collection efforts.

Glossary of Bankruptcy.