concept   bankruptcy
culture   Western countries
statement   Bankruptcy in Western countries is a legal process for individuals and businesses to reorganize or repay debts for relief and a fresh start.

4 similar statements
# Concept Culture Statement Freq.
1 bankruptcy Western countries Bankruptcy is often seen as a failure, but the legal process provides a fresh start for individuals and businesses to reorganize and repay debts. 1
2 bankruptcy Western countries Bankruptcy is a legal process that allows individuals and businesses to eliminate or repay their debts under the protection of the bankruptcy court. 1
3 bankruptcy Western countries Bankruptcy may be seen as a fresh start, a legal process to provide relief to individuals and businesses unable to pay their debts. 1
4 bankruptcy Western countries Bankruptcy is governed by specific laws and procedures, providing opportunities for individuals and businesses to reorganize or liquidate their assets. 1