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Bankruptcy protection

ru

Translation bankruptcy protection into russian

bankruptcy protection
The company sought bankruptcy protection to reorganize its debts.
Компания обратилась за защитой от банкротства, чтобы реорганизовать свои долги.

Definitions

Bankruptcy protection refers to legal provisions that allow individuals or businesses to seek relief from debts they cannot pay, typically through a court process. It provides a framework for debtors to reorganize their finances, either by restructuring their debts or liquidating assets, while protecting them from creditors' collection actions during the process.