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chubhunter [2.5K]
4 years ago
9

____ is a legal proceeding for distributing to creditors the assets of those unable to pay their debts

Law
1 answer:
Delvig [45]4 years ago
8 0

Answer: Bankruptcy

Explanation:

Bankruptcy is a legal process for someone or an organization that can not repay its debts and seek opportunities for part or all of the debt to be forgiven so the person can start afresh.

Bankruptcy can be filled by a creditor or someone can personally declare bankruptcy.

Legal proceedings for declaring bankruptcy differs from one country to another.

In the united states, bankruptcy cases are heard in a federal court.

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The correct answer is A. The Magna Carta

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