Concept selected: Bankruptcy
- Definition
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Bankruptcy is a legal situation in which that individual or company may find itself when it is unable to pay its debts.
- Notes
Bankruptcy may be current or imminent; the latter case occurs when the debtor foresees that s/he will not be able to fulfil her/his obligations regularly and punctually.
- Source
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Surveys Mercantile Companies and Bankruptcy Proceedings
- Topic
- Statistical operations (links to the Inventory of Statistical Operations)
- Concepts associated
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There are no related concepts