Discharge | Practical Law

Discharge | Practical Law

Discharge

Discharge

Practical Law Glossary Item 0-382-3410 (Approx. 2 pages)

Glossary

Discharge

The release of a debtor from liability for certain of its debts on the conclusion of its bankruptcy case. Discharged debts become unenforceable and creditors are prohibited from taking any action to collect such debts. However, a discharge is not an extinguishment of the debt, as discharged debts are payable as provided for under the terms of a plan of reorganization.