Emptio bonorum

Definition of Emptio bonorum

A species of forced assignment for the benefit of creditors; being a public sale of an insolvent debtor’s estate whereby the purchaser succeeded to all his property, rights, and claims, and became responsible for his debts and liabilities to the extent of a quota fixed before the transfer.

That's the definition of Emptio bonorum in Black's Law Dictionary 6th Edition. Courtesy of Cekhukum.com.