Events Tagged: "discharge"

First recorded cessio bonorum in Italian city-states - debtor surrenders all assets to creditors in exchange for discharge, prototype of bankruptcy

Antwerp develops bankruptcy certificate system - discharged debtors receive certificate allowing return to trade

English bankruptcy law adds discharge provision - commissioners can grant certificate of conformity releasing cooperative debtor from debts

English statute requires creditor consent for bankruptcy discharge - 4/5ths in number and value must agree to certificate

Scottish bankruptcy law allows discharge after 5 years - more liberal than English law, reflecting Roman cessio bonorum tradition

English statute makes bankruptcy discharge permanent - previously could be revoked if debtor acquired new property

First U.S. Bankruptcy Act passed - applies only to merchants and traders, allows voluntary and involuntary bankruptcy, discharge available

German Bankruptcy Code reform - allows discharge without creditor consent, social view of bankruptcy

Pope Francis discharged after 38-day hospitalization, described as critically ill during stay