InvestorWords.com
bankrupt
Definition
A person, firm, or corporation that has been declared insolvent through a court proceeding and is relieved from the payment of all debts after the surrender of all assets to a court-appointed trustee.
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Identifying and Profiting off Companies Emerging from BankruptcyOnce a company emerges from bankruptcy, holders of the company's debt usually don't get paid off in cash (the company usually doesn't have much cash), but rather mostly newly issued bonds or common st ... Read more
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