Stay of Proceedings: Canada Debt .ca defines Stay of Proceedings

Bankruptcy Term Stay of Proceedings

<<< Back

Canada Debt has the definition to the bankruptcy and debt term Stay of Proceedings. Finding answers to terms such as Stay of Proceedings can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Stay of Proceedings in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Stay of Proceedings' is used as follows:

The stopping or preventing of legal actions undertaken. In the Bankruptcy and Insolvency Act, there is a stay of proceedings in the case of a bankruptcy or in the case of a proposal. This stops all legal actions against the company or person.