Bankrupt

A person, firm, or corporation that has been declared Insolvent through a court proceeding and is relieved from the payment of all debts after the surrender of all assets to a court-appointed trustee.

Related Terms: 11 Asset, Debt, Declare, Insolvent, NSO, Point, PPO, Ratio, ROC, ROCE, Trust

Other Related Pages: Category: Lending_and_Credit Starting With: B

Additional Related Terms: Active asset, Alternative assets, Asset, Asset/equity ratio, Available assets, Asset management account, Accrual of discount, After-tax basis, American Municipal Bond Assurance Corporation, Amortization of premium