What happens when a country goes bankrupt?

Answer Iceland sent shock waves throughout the world in 2008 when it declared bankruptcy amidst the 2007-2008 recession. When a country goes bankrupt, there are fewer rules to return to solvency as there ... Read More »

Top Q&A For: What happens when a country goes bankrupt

What happens when an llc goes bankrupt?

When a limited liability company (LLC) goes bankrupt, the business is declaring it is financially insolvent. The LLC could enter restructuring in a Chapter 11 bankruptcy or an immediate liquidation... Read More »

What Happens to Checking Accounts When a Bank Goes Bankrupt?

When a bank goes bankrupt, it can no longer pay back its checking account depositors. Before 1934, when Federal Deposit Insurance Corp. insurance began, depositors risked losing all of their money ... Read More »

What Happens When Your Life Insurance Goes Bankrupt?

Just like banks, insurance companies have a protection for the consumers similar to the FDIC. The protective agency is the state insurance guaranty fund. Since states control insurance products and... Read More »

What happens if the company I own stock in goes bankrupt?

A corporate bankruptcy of a publicly traded company can occur in one of two ways--either in Chapter 7 or Chapter 11 bankruptcy filings. The consequences to common stockholders can differ, depending... Read More »