7. Glossary
Personal bankruptcy
Professional sanction pronounced by the Commercial Court against a person for dishonest or negligent behavior.
Court-ordered liquidation
Procedure ordered by the commercial or district court to realize assets in order to settle liabilities.
Court receivership
Procedure used to resolve the situation of a company that is unable to pay one or more debts as they fall due, and has stopped making payments, but whose situation is not definitively compromised.
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