bankruptcy proceedings

简明释义

破产程序

英英释义

例句

1.Creditors must submit their claims during the bankruptcy proceedings 破产程序 to recover some of their losses.

债权人在破产程序中必须提交他们的索赔以弥补部分损失。

2.The judge approved the reorganization plan during the bankruptcy proceedings 破产程序.

法官在破产程序中批准了重组计划。

3.Filing for bankruptcy proceedings 破产程序 can provide relief for overwhelmed businesses.

申请破产程序可以为陷入困境的企业提供解脱。

4.The company filed for bankruptcy proceedings 破产程序 after failing to pay its debts.

这家公司在未能偿还债务后申请了破产程序。

5.During bankruptcy proceedings 破产程序, the assets of the debtor are evaluated.

在破产程序中，债务人的资产会被评估。

作文

In today's volatile economic landscape, the term bankruptcy proceedings refers to the legal process through which individuals or businesses that cannot meet their financial obligations seek relief from some or all of their debts. This process is often seen as a last resort for those overwhelmed by financial difficulties. It is important to understand that bankruptcy proceedings can vary significantly depending on the jurisdiction and the type of bankruptcy filed. In the United States, for example, there are different chapters under the Bankruptcy Code, each catering to specific circumstances. Chapter 7 is often referred to as 'liquidation bankruptcy,' where non-exempt assets are sold off to pay creditors. Chapter 11, on the other hand, is typically used by businesses to reorganize their debts while continuing operations. Chapter 13 is designed for individuals with a regular income who wish to keep their property and repay their debts over time.The implications of bankruptcy proceedings extend beyond mere financial relief; they also carry significant social and emotional consequences. For many, declaring bankruptcy is a deeply personal decision, often accompanied by feelings of shame and failure. Society tends to stigmatize those who go through this process, viewing them as irresponsible or incapable of managing their finances. However, it is crucial to recognize that economic downturns, unexpected medical expenses, or job losses can affect anyone, regardless of their financial literacy or planning.Moreover, the impact of bankruptcy proceedings is not limited to the individual or business filing for bankruptcy. Creditors also face challenges when a debtor files for bankruptcy. They may recover only a fraction of what they are owed, leading to losses that could affect their own financial stability. This ripple effect underscores the interconnectedness of our economy and the importance of understanding how bankruptcy works.In addition to the immediate financial implications, bankruptcy proceedings can have long-term effects on an individual's credit score. A bankruptcy filing can remain on a credit report for up to ten years, making it more difficult to secure loans or credit in the future. This long-term consequence often serves as a deterrent for individuals considering bankruptcy as a solution to their financial woes.Despite these challenges, bankruptcy proceedings can provide a fresh start for those who have exhausted all other options. It allows individuals and businesses to wipe the slate clean and begin anew, free from the burden of insurmountable debt. Many successful entrepreneurs have declared bankruptcy at some point in their careers, only to rise again stronger and more resilient.In conclusion, understanding bankruptcy proceedings is essential in today's economic environment. While it may be viewed negatively, it serves a vital function in providing relief to those in dire financial situations. By demystifying the process and recognizing its implications, we can foster a more compassionate view of those who find themselves navigating the challenges of bankruptcy. It is crucial to approach this topic with empathy and awareness, acknowledging that financial struggles can happen to anyone, and that bankruptcy proceedings may be the best option for regaining control of one’s financial future.

在当今动荡的经济环境中，术语破产程序指的是个人或企业无法履行财务义务而寻求解除部分或全部债务的法律程序。这个过程通常被视为那些因财务困难而感到不堪重负的人的最后手段。需要理解的是，破产程序可能会因司法管辖区和所申请的破产类型而有显著差异。例如，在美国，破产法典下有不同的章节，每个章节都针对特定情况。第七章通常被称为“清算破产”，其中非豁免资产被出售以偿还债权人。第十一章则通常用于企业在继续运营的同时重组其债务。第十三章旨在帮助有规律收入的个人保留其财产并分期偿还债务。破产程序的影响不仅限于财务救济；它们还带来了重大的社会和情感后果。对许多人来说，宣告破产是一个非常个人的决定，通常伴随着羞耻和失败的感觉。社会往往对经历这一过程的人持有污名化的看法，认为他们不负责任或无法管理自己的财务。然而，必须认识到，经济衰退、意外医疗费用或失业等因素可以影响任何人，无论其财务知识或规划能力如何。此外，破产程序的影响不仅限于申请破产的个人或企业。债权人在债务人申请破产时也面临挑战。他们可能只能收回所欠款项的一小部分，这导致的损失可能会影响他们自身的财务稳定。这种涟漪效应强调了我们经济的相互关联性以及理解破产运作的重要性。除了直接的财务影响，破产程序还可能对个人的信用评分产生长期影响。破产申请最多可以在信用报告上保留十年，使得未来获得贷款或信用变得更加困难。这种长期后果往往成为那些考虑将破产作为财务解决方案的人的威慑。尽管面临这些挑战，破产程序可以为那些已经耗尽所有其他选择的人提供重新开始的机会。它允许个人和企业洗清债务的负担，重新开始，摆脱无法承受的债务。许多成功的企业家在职业生涯的某个时候曾宣告破产，但最终又强大而坚韧地崛起。总之，理解破产程序在当今经济环境中至关重要。虽然它可能被负面看待，但它在为处于困境中的人提供救济方面发挥着重要作用。通过揭开这一过程的神秘面纱并认识到其影响，我们可以培养对那些发现自己在破产挑战中挣扎的人的更具同情心的看法。以同情和意识的态度看待这一话题至关重要，承认财务困境可能发生在任何人身上，而破产程序可能是重新掌控财务未来的最佳选择。