Bankruptcy is a condition where an individual or company is unable to pay their debts as they fall due. The bankruptcy legal process involves the court determining how the debtor’s assets will be used to pay their debts.

Bankruptcy is a situation where an individual or company does not have enough assets to cover their debt obligations. Bankruptcy is often the primary reason for filing for bankruptcy.

Restructuring is a process undertaken by companies experiencing financial difficulties to change their operational, financial or organizational structure to make them more efficient and able to pay their debts. The goal is to avoid bankruptcy and improve the company’s financial performance.