Bankruptcy: Difference between revisions
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imported>Doug Williamson (Create page. Sources: Oxford dictionary https://en.oxforddictionaries.com/definition/bankrupt, linked pages.) |
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Revision as of 17:52, 9 July 2018
Insolvency law.
Bankruptcy is a formal declaration of insolvency by a court.
Bankruptcy can apply to businesses and to individuals.
It provides a degree of protection for the debtor against its creditors, while also involving a loss of control by the debtor.
