Bankruptcy
(830 words)

1. Concept

Bankruptcy is a special form of compulsory execution (Legal enforcement) which takes place when several creditors have financial claims against a debtor. A feature of bankruptcy is that the creditors form an association and are given satisfaction by receiving a share in the debtor’s assets. When the assets are over-committed, each creditor receives only a partial amount of his or her original claim. This type of…

Cite this page
Hofer, Sibylle, “Bankruptcy”, in: Encyclopedia of Early Modern History Online, Executive editor of the English edition: Graeme Dunphy. Consulted online on 30 March 2017 <http://dx.doi.org/10.1163/2352-0272_emho_COM_022522>
First published online: 2015
First print edition: 20160321



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