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Bankruptcy Relief
Legal procedures designed to provide individuals or businesses facing financial distress with relief from some or all of their debts.
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.
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