Outrageously Funny Word Dictionary :: Bankrupcy

👉 Bankruptcy is a legal process in which a company or individual files for bankruptcy protection, indicating that they are unable to meet their financial obligations and therefore cannot continue to operate. This can be due to various reasons such as debts exceeding assets, non-payment of taxes, or significant losses in the business. Bankruptcy proceedings typically involve the filing of a petition with the court, which may include the company's creditors, creditors' attorneys, and any other parties involved. Once approved by the court, the company

bankrupcy