Bankruptcy reorganization and liquidation is, in fact, an attempt to revitalize trade activities of a businessman. This act of reorganization is carried out in order to support a businessman who has gone out of business due to insolvency. In jurisprudence, the term &ldq
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Bankruptcy reorganization and liquidation is, in fact, an attempt to revitalize trade activities of a businessman. This act of reorganization is carried out in order to support a businessman who has gone out of business due to insolvency. In jurisprudence, the term “bankrupt” is synonymous with Mofles (insolvent), but the exact meaning of Mofles and when it can be applied has been subject of controversy. Reorganization of bankruptcy is actually based on Procrastination in repaying debts according to the jurisprudential principles. It goes without saying that every individual is tasked according to their potential, and entrusting insolvents with non-bearable obligations flatly contradicts this. The process of bankruptcy reorganization As an innovation of this work can be carried out under specific conditions within the context of gratuitous contracts such as gift, conclusion of peace, endowment, charity, relief from obligation, loan agreement and the payment of zakat, which are all recognized as obligatory-moral rules. In fact, in jurisprudential channels, the beth din (house of judgment) can gratuitously show lenience towards the bankrupt person before the issuance of the bankruptcy verdict in order to help them reorganize their business and extinguish their liability towards debts arising from their bankruptcy. This extinguishment is dependent on jurisprudential rules.
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