Definition and meaning of default in an economic context, highlighting the implications for individuals, firms, and countries.
A legal arrangement for individuals unable to pay their debts, involving asset liquidation and creditor repayment.
Understanding Chapter 11 of the U.S. Bankruptcy Law: Mechanisms and Implications
Provisions of US bankruptcy law applicable to family farmers, fishermen, and private individuals aiming for reorganization under court supervision
The financial and corporate misconduct leading to the bankruptcy of Enron in December 2001.
Inability of an individual or company to pay debts as they fall due, potentially leading to bankruptcy or liquidation.
