BKRPT has various meanings in the Governmental & Military category. Discover the full forms, definitions, and usage contexts of BKRPT in Governmental & Military.
The legal process that a person or firm goes through if they are unable to pay their debts. The process seeks an orderly sharing of the losses by creditors and a chance to start fresh, usually after some delay, for the debtor. No such process exists for national governments or countries, exacerbating the problems of debt crisis and financial crisis.
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