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Bankruptcy proceedings

In bankruptcy proceedings, an insolvent and unprofitable company is closed down after a court process. You may file for a bankruptcy yourself or the petition may also be filed by any of your creditors. The court appoints an estate administrator who manages the bankruptcy estate and acts as its representative. A bankruptcy may also be reversed if there are valid reasons for this.


Text edited by: Suomi.fi web editorial
Updated: 8/9/2019