Bankruptcy

thumb|right|200px|Businesses that file for bankruptcy may have a "store closing" sale to liquidate their stock, such as this Drug Fair. Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.

Liquidation is the process in accounting by which a company is brought to an end. The assets and property of the business are redistributed. When a firm has been liquidated, it is sometimes referred to as wound-up or dissolved, although dissolution technically refers to the last stage of liquidation. The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry.

process of renegotiation regarding an organization's, or sovereign entity's delinquent debts

form of debt relief for individuals, allowed by law under certain circumstances and conditions

Restructuring or Reframing is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs. Other reasons for restructuring include a change of ownership or ownership structure, demerger, or a response to a crisis or major change in the business such as bankruptcy, repositioning, or buyout. Restructuring may also be described as corporate restructuring, debt restructuring and financial restructuring.

model for assessing likelihood of bankruptcy

reduction of a claim by deducting the amount of a valid countervailing claim

legal right granted by a debtor to a creditor over the debtor's property

Latin phrase; "on equal footing"

sale of goods at extremely discounted prices

overview of bankruptcy in China

law enforcement in foreign countries