Facebook users demand Cambridge Analytica secrets in bankruptcy

Facebook users who say their personal data was misused, potentially to distort the last U.S. election, will have to wait to see if they can wring more information from Cambridge Analytica, the disappearing company that played ...

US radio giant iHeartMedia files for bankruptcy

Leading US radio company iHeartMedia, which runs some of the country's most popular Top 40 stations, has filed for bankruptcy protection as it struggles to pay $20 billion in debt.

'No money down' bankruptcies prevalent among the poor, minorities

A new paper from a University of Illinois law professor who studies consumer credit issues examines the breakdown in access to justice among the poor and minorities in the bankruptcy system, from which about 1 million Americans ...

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Bankruptcy

Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization).

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