bankruptcy
Sign in to savethumb|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.
AI overview
Bankruptcy is a legal process that allows people or businesses unable to pay their debts to seek court-ordered relief from some or all of what they owe to creditors. It matters because it provides a formal, structured way for debtors to address overwhelming debt situations, though the process typically requires court involvement and can have significant financial consequences.
AI-generated from the Wikipedia summary — may contain errors.
Research
1,463 papers- Debt, Bankruptcy, and Credit Scores After Cancer Diagnosis.JAMA oncology · 2025
- Sustainability of costs of novel biologicals: Are we all heading for bankruptcy?British journal of clinical pharmacology · 2020
- Bankruptcy linked to early mortality in patients with cancer.CA: a cancer journal for clinicians · 2016
- Undersampling bankruptcy prediction: Taiwan bankruptcy data.PloS one · 2021
- Trading Bankruptcy for Health: A Discrete-Choice Experiment.Value in health : the journal of the International Society for Pharmacoeconomics and Outcomes Research · 2018
via PubMed
Article
40 sectionsContents
- Etymology
- History
- Modern law and debt restructuring
- Fraud
- By country
- Argentina
- Armenia
- Australia
- Brazil
- Canada
- Duties of trustees
- Creditors' meetings
- Consumer proposals
- Commercial restructuring
- China
- Ireland
- Israel
- India
- The Netherlands
- Russia
- South Africa
- Spain
- Switzerland
- Sweden
- United Arab Emirates
- United Kingdom
- Pensions
- Involuntary bankruptcy
- United States
- Debts and exemptions
- Chapters
- Chapter 7
- Chapter 11
- Chapter 13
- European Union
- Effective sovereign bankruptcy
- See also
- References
- Further reading
- External links
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.
Bankrupt is not the only legal status that an insolvent person may have, meaning the term bankruptcy is not a synonym for insolvency.