= Bankruptcy theory
{wiki=Category:Bankruptcy_theory}
Bankruptcy theory encompasses the study of how financial distress, insolvency, and bankruptcy affect individuals, businesses, and the economy as a whole. It involves various economic, legal, and financial principles and aims to understand the implications and mechanics of debt resolution and creditor-debtor relationships. Here are some key components of bankruptcy theory: 1. **Legal Framework**: Different jurisdictions have specific laws governing bankruptcy.
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