Bankruptcy

Something that makes all debt go away magically according to Michael Scott .

“Bankruptcy makes it just disappears?”

“Just like that!”

by user 1234567890 February 2, 2021

mutually assured bankruptcy

The idea that when two hyper-competitive people or organizations decide to directly advertise against one another the firsts move will elicit a response from the second that will begin a series of escalations in marketing expenditures beyond what would be reasonable in an efficient free market to the point of bankruptcy for both people or organizations. The term comes from the Cold War-era term Mutually Assured Destruction.

McDonald's and Burger King were so concerned with market share with the Big Mac and Whopper that they lost sight of the button line and in an effort to one-up the other in marketing dollars and thus market share, they are both now doomed. It is mutually assured bankruptcy.

by Fat Aaron January 13, 2020

Holiday Bankruptcy

When you have a lot of debts and gets broke from buying all that Christmas presents.

#Person1: Hey dude are you ok.
#Person2: No I’m dealing with this holiday bankruptcy

#Person1: that’s unfortunate

#Person2: yeah I know

by Zelda if the new world November 12, 2022

hood bankruptcy

Selling your cardano crypto currency because you need money to survive.

Omar El Souessy declared hood bankruptcy by selling his crypto.

by munde0 March 22, 2022

The Business of Bankruptcy

Hidden in the deep and mysterious undercurrents of the Federal legal machinery, billion-dollar Law Firms, profit offsetting Debters-in-Posession, and Parasitic Restructuring Teams methodically extract unimaginable financial compensation from the many hopeless, helpless and beleaguered businesses unlucky enough to file for Chapter 11 ‘relief’.

Well, we’re on credit-hold with every one of our vendors, we can’t pay our staff, our taxes or operating expenses; looks like we’re heading for Chapter 11.
Right. Now all of our debt will be resolved and a Debtor-In-Posession can loan us about 20 million dollars that they don’t expect to recover; they will use that loss to tax-offset profit from their other business interests and the loan funds mostly to pay excessively padded legal and professional fees. The objective here is to delay, extend and postpone definitive resolution of the case in order to optimize the Business of Bankruptcy. Unsecured creditors lose, lawyers win.

by YAWA September 1, 2025