Definitions from the Web
Prepetition
Definition:
Prepetition is an adjective that refers to something occurring or existing before the filing of an official legal document, usually in a bankruptcy case.
Senses:
- Legal: Referring to actions, agreements, or events that took place before the filing of a bankruptcy petition.
Sample Sentences:
- The prepetition debts will be evaluated separately from post-petition obligations in the bankruptcy proceedings.
- As per the prepetition agreement, the company was required to maintain financial records for the past five years.
- The court ruled that the prepetition assets could not be used to settle post-petition obligations.
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