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Bankruptcy
Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Legal services
- Category: Courts
- Company: U.S. DOJ
- Product:
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