Concept information
Preferred term
ethical issues in bankruptcy
Definition
- Bankruptcy occurs when an individual or a corporation that has insufficient assets to pay all debt obligations is subject to laws that provide some protection from creditors and permit an orderly distribution of assets to satisfy creditors' claims. There are two broad kinds of bankruptcy. [Source: Encyclopedia of Business Ethics and Society; Bankruptcy, Ethical Issues in]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/ethical_issues_in_bankruptcy
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