When a company goes bankrupt this means that it has more expenses than profits that they are taking in. It also means that they can go in front of a court to determine if they can receive forgiveness for some of the debts that they owe to their creditors.
To file for financial protection under one of the chapters of the Federal Bankrutpcy laws. Normally, it allows for debt collections to stop, while the court figures out how to distribute assets to those that are owed, or while a financial plan is derived to resolve the financial crisis.
It is legally declared of insolvent
The simple answer used to be that you were bankrupt if you could not pay your bills as they came due.
"Bankrupt" means that a person or organization is unable to pay their debts and is legally declared insolvent.
Can you be a teacher if you go bankrupt ?
Once you go bankrupt you are out of the game so you can go bankrupt once
No you can not go bankrupt on traffic tickets
No. Bankrupt is an adjective. The noun form is bankruptcy.
yes you can bankrupt
We are not bankrupt yet but we are getting closer.
General Motors did go bankrupt.
Absolutely, anyone can go bankrupt!
While some people went bankrupt in the 1890s mini depression, many businesses went bankrupt during the Great Depression.She felt emotionally bankrupt because of her drug addiction.
what can you do for a bankrupt financial institution? there bankrupt, out of busyness, the company does not exist no-mo!
can you join the Army if you have ben made Bankrupt