Business, Management and Accounting
2 years ago

Bankruptcy laws worldwide under scrutiny for impact on debtors and creditors.

The Blackwell Encyclopedia of Sociology
Bankruptcy
Claudia W. Scholz, Juanita M. Firestone

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Bankruptcy is a legal status when someone can't pay their debts. It involves selling assets, changing payment plans, and getting rid of remaining debts. Laws about bankruptcy differ worldwide in how they help creditors, debtors, and society.