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Legal Bankruptcy

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Legal bankruptcy
A legal proceeding for liquidating or reorganizating a business.
Legal Bankruptcy
A bankruptcy that has resulted in legal proceedings. See also: Chapter 7, Chapter 11, Chapter 13.
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The primary purpose of legal bankruptcy is to give the person declaring bankruptcy a fresh start in the fiscal sense and relieve them of most of their debts.
Is Bankruptcy in Your Future? by Greg Ellis / Finance and Investment community
In the end it might be better to give someone a break and get some money than pushing them into legal bankruptcy and getting nothing at all.
Get the Money You Need for A Sucessful Cashflow by Edward Bryce / Business community
According to judicial authorities in charge of bankruptcy proceedings (arbitrazhnyi sud--arbitrage court), 82% of all corporate farms were above this legal bankruptcy threshold in 2002 because of their arrears for taxes and social deductions.
Nonpayments, bankruptcy and government support in Russian agriculture by Yastrebova, Olga / Comparative Economic Studies
 
 
 
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