Bankruptcy

Notice of closure attached to the door of a Computer Shop outlet the day after its parent company declared

Failure of John Law's Mississippi Company led to French national bankruptcy in 1720.

Bankruptcy according to Salvation Army, Switzerland.

Bankruptcy is a legal status of a person or other entity that cannot repay the debts it owes to creditors. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.

Bankruptcy is not the only legal status that an insolvent person or other entity may have, and the term bankruptcy is therefore not a synonym for insolvency. In some countries, including the United Kingdom, bankruptcy is limited to individuals, and other forms of insolvency proceedings (such as liquidation and administration) are applied to companies. In the United States, bankruptcy is applied more broadly to formal insolvency proceedings. In France, the cognate French word banqueroute is used solely for cases of fraudulent bankruptcy, whereas the term faillite (cognate of "failure") is used for bankruptcy in accordance with the law.

单词	Bankruptcy petition
释义	Bankruptcy petition 原声例句 VOA Standard 2013年7月合集 Detroit’s bankruptcy petition, filed by state appointed Emergency Manager Kevyn Orr, lists the General Retirement System and the Police and Fire Retirement System of Detroit as two of the largest creditors, with a combined $2.5 billion in unfunded liabilities. 该州被任命的紧急管理人Kevyn Orr提交了底特律的破产申请，他称底特律退休人员基金、警察和消防退休制度是两大债主，共有25亿美元无资金准备的债务。英语百科 Bankruptcy Bankruptcy is a legal status of a person or other entity that cannot repay the debts it owes to creditors. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankruptcy is not the only legal status that an insolvent person or other entity may have, and the term bankruptcy is therefore not a synonym for insolvency. In some countries, including the United Kingdom, bankruptcy is limited to individuals, and other forms of insolvency proceedings (such as liquidation and administration) are applied to companies. In the United States, bankruptcy is applied more broadly to formal insolvency proceedings. In France, the cognate French word banqueroute is used solely for cases of fraudulent bankruptcy, whereas the term faillite (cognate of "failure") is used for bankruptcy in accordance with the law.
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Bankruptcy petition

Bankruptcy