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Automatic stay
The requirement for a period of time following the submission of a petition for bankruptcy in which all judgments, collection activities, foreclosures, and repossessions of property are suspended and may not be pursued by the creditors on any debt or claim that arose before the filing of the bankruptcy petition.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Banking; Business services
- Category: Mergers & acquisitions
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