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Insolvency and bankruptcy

GANESH VERMA (8 Points)

03 December 2017

what is difference between insolvency and bankruptcy?

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manoj (student) (5205 Points)
Replied 03 December 2017

insolvency is a financial state of being – one that is reached when you are unable to pay off your debts on time. Bankruptcy, on the other hand, is a legal process that serves the purpose of resolving the issue of insolvency.

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Insolvency and bankruptcy

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