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Technical Bankruptcy

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Dictionary Says

Definition of 'Technical Bankruptcy'

The state of a company or person who has defaulted on a financial obligation and would be declared bankruptcy if the creditor makes a claim through the courts.
Investopedia Says

Investopedia explains 'Technical Bankruptcy'

In other words, a company or person experiencing technical bankruptcy shows all the signs of bankruptcy, but just hasn't been declared bankrupt by the courts.

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