Bankruptcy

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Description

A legal proceeding for liquidating or reorganizing a business.

It is a legal status in which the financial affairs of an illiquid business (or individual) are managed, in large part, by the relevant court.

Concept Prerequisite

Wikipedia Reference

http://en.wikipedia.org/wiki/Bankruptcy

Learning Material

Covered in Topic(s)

 
Financial Leverage and Capital Structure Policy
Liabilities