Bankruptcy
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Description
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.
Bankrupt is not the only legal status that an insolvent person may have, meaning the term bankruptcy is not a synonym for insolvency.
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- Slug: bankruptcy
- Instance Count: 2
- Total Views: 504
- Added: Jul 20, 2024
- Last Updated: Oct 13, 2025