Corporate Bankruptcy
(redirected from Corporate Bankruptcies)

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Corporate Bankruptcy

The legal process by which a company or other business declares that it is unable to pay its debts and requires relief. In the United States, there are two kinds of corporate bankruptcy. Chapter 7 provides for liquidation of a business and the discharge of debts. Chapter 11 allows corporations to continue operations after reorganization and forgives debts that companies cannot repay.

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Corporate Bankruptcy (redirected from Corporate Bankruptcies)

Corporate Bankruptcy
(redirected from Corporate Bankruptcies)