{"iri":"https://folio.openlegalstandard.org/R9JkqKed1jktjgwaeiLc7ru","label":"Liquidation Bankruptcy","sub_class_of":["https://folio.openlegalstandard.org/R7LI3BONqNkXbKHKa0t3jyI"],"parent_class_of":["https://folio.openlegalstandard.org/RjQP37RLKtTQzjd7UbRKcQ"],"is_defined_by":null,"see_also":[],"comment":null,"deprecated":false,"preferred_label":null,"alternative_labels":[],"translations":{"pt-br":"Falência de liquidação","fr-fr":"Liquidation judiciaire","de-de":"Liquidationsinsolvenz","ja-jp":"清算型破産","zh-cn":"清算破产"},"hidden_label":null,"definition":"This is a type of bankruptcy where an individual's or company's assets are sold to pay off creditors. The debtor is typically absolved of further responsibility for the debts once the assets are liquidated, and the proceeds are distributed amongst the creditors.","examples":[],"notes":[],"history_note":null,"editorial_note":null,"in_scheme":null,"identifier":null,"description":null,"source":null,"country":null}