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Bankruptcy Codes

Depending on the circumstances, private companies under the Bankruptcy code may file a petition for relief under different chapters of the code. Title 11 is comprised of nine chapters, of which six chapters are designated for filing petition. The remaining three chapters provide rules to govern those petitions.

Bankruptcy filing specifications differ widely among various countries, leading to higher and lower filing rates, depending on how easily a private company or a person can complete the process.

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