voluntary bankruptcy

noun [C or U] FINANCE, LAW

Definition

› a situation in which a business or a person becomes unable to pay their debts, and asks to be made officially bankrupt: The company went into a voluntary bankruptcy in August.

(Definition of voluntary bankruptcy noun from the Cambridge Business English Dictionary © Cambridge University Press)

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volume industry noun
volume noun
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voluntary adjective
voluntary arrangement noun
voluntary bankruptcy noun
voluntary compliance noun
voluntary export restraint noun
voluntary export restriction noun
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