What Happens If A Country Goes Bankrupt? http://testu.be/1Irc7xC
Bankruptcy is a common occurrence in the U.S., with thousands of people filing each year. So, what are the different types of bankruptcy?
Chapter 11 Bankruptcy – Causes & Solutions
“Chapter 11 bankruptcy, also called reorganization, is a type of bankruptcy designed to allow companies to restructure their debts.”
Puerto Rico’s Governor Says Island’s Debts Are ‘Not Payable’
“Puerto Rico’s governor, saying he needs to pull the island out of a “death spiral,” has concluded that the commonwealth cannot pay its roughly $72 billion in debts, an admission that will probably have wide-reaching financial repercussions.”
“Insolvency is the financial state in which a person or company can no longer pay its bills and other monetary obligations in a timely manner.”
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