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Technically Insolvent
A financial state where an entity's liabilities exceed its assets, but it has not yet declared bankruptcy.
Bankruptcy Relief
Legal procedures designed to help individuals or businesses that cannot pay their debts to either eliminate those debts or repay them under the protection of bankruptcy court.
Businesses
Organizations engaged in commercial, industrial, or professional activities with the aim of earning profits.
Chapter 7
A provision under the U.S. Bankruptcy Code dealing with the process of liquidation, where a debtor's assets are sold to pay creditors.
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