Named events in which a company filed for bankruptcy protection, ceased operating as a going concern, or collapsed outright, including formal Chapter 11 reorganizations, liquidations and sudden operational or financial collapses that ended a company's independent existence. Belongs here: any event whose defining act is a company's financial failure or cessation as an independent business. Does not belong here: a fraud or accounting scandal that may have caused the collapse, grouped under Corporate Fraud and Financial Scandals, unless the entity's own name and scope center on a normal insolvency rather than the underlying deception.
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1. Wikipedia: Bankruptcy
WikipediaBankruptcy, History sectionQuote, Bankruptcy, History section
The Statute of Bankrupts of 1542 was the first statute under English law dealing with bankruptcy or insolvency.
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