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Bankrupcy and Insolvency, Managed by the Superintendence of Companies…
Bankrupcy and Insolvency
What is it?
Bankrupcy: A legal process through which individuals or businesses declare their inability to repay debts. Overseen by courts to settle debts through asset liquidation or repayment plans.
Insolvency: A financial state where liabilities exceed assets or inability to meet debt obligations when due.
Precursor to bankruptcy in many cases.
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