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Business Terms and Jargon Explained

What is Bankruptcy Order

This indicates that a person is unable to pay their debts and, subject to certain exceptions, deprives them of their property. The property can then be sold in order to pay the person's creditors.

© Crown Copyright. Material taken from HM Revenue & Customs. Reproduced under the terms and conditions of the Click-Use Licence.

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Term created / updated 2006-11-24 15:41:42

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