/dɪˈkriː ʌv ˈbæŋkrəptsi/ – Phrase
Definition: bản án tuyên bố phá sản.
A more thorough explanation: A decree of bankruptcy is a formal court order declaring that a person or entity is insolvent and unable to pay their debts. This legal process typically involves the appointment of a trustee to oversee the administration of the bankrupt individual or entity’s assets and liabilities.
Example: The court issued a decree of bankruptcy against the company, ordering its assets to be liquidated to pay off its creditors.