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Why Have Romania and Bulgaria Experienced the Least Success of All

question 73

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Why have Romania and Bulgaria experienced the least success of all the eastern European states in adapting to the postcommunist political world?


Definitions:

Market Price

The contemporary market cost for acquiring or disposing of assets or services.

Chapter 11 Bankruptcy

A legal process that allows businesses to reorganize under bankruptcy laws of the United States, enabling them to keep operating while restructuring their debts.

Chapter 7 Bankruptcy

A legal process providing for the liquidation of a debtor's assets to pay off creditors under the U.S. bankruptcy code.

Liquidation

The process of winding up a company's operations and distributing its assets to claimants, typically when it is insolvent.

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