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Lapse of bankruptcy and public receivership

A bankruptcy may lapse if the bankruptcy estate does not have enough funds to cover the costs of the proceedings or if there would not be enough funds for the creditors after the expenses have been paid. If a bankruptcy lapses, the proceedings are ended and your company is closed down. The bankruptcy can, however, continue under public receivership.


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