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Austin Bankruptcy - Terms & Definitions

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Valuation Hearing
the proper Bankruptcy Court (federal district) in which a bankruptcy proceeding should be commenced. Generally, venue is where the debtor resides or where the debtor business's primary business address or assets are located. Venue may be changed by a motion of a party in interest.
Venue
the appropriate federal district for the conduct of the bankruptcy case or related proceedings.
Verdict
The decision of a trial jury or a judge that determines the guilt or innocence of a criminal defendant, or that determines the final outcome of a civil case.
Voir Dire
Jury selection process of questioning prospective jurors, to ascertain their qualifications and determine any basis for challenge.
Voluntary Bankruptcy
a bankruptcy proceeding initiated by a debtor filing a petition for relief. Also known as a voluntary petition. Most bankruptcy proceedings are voluntary.
Voluntary transfer
A transfer of a debtor's property with the debtor's consent.

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