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Home > Terms > English, UK (UE) > Bankruptcy
Bankruptcy
A federal legal proceeding designed to protect the technically or legally insolvent firm from lawsuits by its creditors until a decision can be made to shut down or continue to operate the firm.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Banking; Business services
- Category: Mergers & acquisitions
- Company:
- Product:
- Acronym-Abbreviation:
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