This may or may be considered a lawsuit at this point....Gauzy called it "insolvency proceedings" which is using the general term that can cover a variety of legal processes while not sharing the detail of what it specifically is, could be a filing of some sort and not considered a suit at this point I suppose..My guess it is a suit started.
I am not as well versed in legal as all of our favorite refr investor is, J Barb. I believe she is a lawyer and can speak to this if she so honors us with her opinion.
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Yes, a suit is a type of legal proceeding, and in modern legal terminology, the terms are often used interchangeably in certain contexts. "Proceeding" is a broader term that encompasses any formal action or steps taken in a court or by an official body to resolve a legal issue, while "suit" specifically refers to the entire legal process of one party bringing a claim against another in a court of law.
- Scope: A "proceeding" can refer to any single step, hearing, or measure taken within a legal action, or the entire process itself, including arbitrations, audits, and investigations, not just court cases. A "suit" refers to the formal, ongoing legal action from the initial filing (usually of a complaint or plaint) to the final judgment.
In essence, while all suits are proceedings, not all proceedings are necessarily suits (as some might be administrative hearings, specific steps within a case, or criminal actions, which are often called "cases"). |
