Examlex
Since preferred stock dividends are not deductible for tax purposes,few corporations own preferred stock.
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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