Terms Used In Louisiana Revised Statutes 39:622

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.

            The provisions of La. Rev. Stat. 39:619 through 621 shall extend to any plan proposed in any petition heretofore filed in any court of bankruptcy in the United States.