Legal bankruptcy

(redirected from Legal Bankruptcies)

Legal bankruptcy

A legal proceeding for liquidating or reorganizating a business.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Legal Bankruptcy

A bankruptcy that has resulted in legal proceedings. See also: Chapter 7, Chapter 11, Chapter 13.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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However, legal bankruptcies increased and those caused by recession-related factors are still on the rise, it said.