involuntary bankruptcy
noun [U] LAWDefinition
› a situation in which a business or a person becomes unable to pay their debts, and is made officially bankrupt after people who are owed money go to court to try to get some of their money back: The company was placed into involuntary bankruptcy, and assets were frozen. → Compare voluntary bankruptcy
(Definition of involuntary bankruptcy noun from the Cambridge Business English Dictionary
© Cambridge University Press)
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