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 |