By Naveen Athrappully Bankruptcy filings by commercial entities grew by more than a third this year as businesses struggled under an environment of high costs and interest rates, according to the American Bankruptcy Institute (ABI). A total of 3,016 commercial Chapter 11 bankruptcies were filed in the January–June period this year, up 34 percent from […]
Tag: Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.