Bankruptcy is a legal status of a person or organization that cannot repay the debts it owes to creditors. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankruptcy is not the only legal status that an insolvent person or organization may have, and the term bankruptcy is therefore not a synonym for insolvency.
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An Italian judge has reportedly ordered Francesco Firano, CEO of shady cryptocurrency exchange BitGrail, to repay the $170M ...