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Liquidation Order
A legal decree that mandates the dissolution of a company and the sale of its assets to pay off creditors.
Discharge Of Debt
The process of formally relieving a debtor from being legally obligated to pay a debt or obligation.
Chapter 7
A provision under the U.S. Bankruptcy Code that deals with liquidation, where an individual's or company's assets are sold to pay off debts.
Bankruptcy Code
The set of laws that governs the process of bankruptcy in the United States, which allows individuals and businesses to discharge their debts or reorganize their financial obligations.
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