/ɪnˈvɑləntɛri ˈbæŋkrʌpt/ – Phrase
Definition: con nợ bị tuyên bố mất khả năng chi trả theo yêu cầu của chủ nợ.
A more thorough explanation: “Involuntary bankruptcy” refers to a situation where a person or entity is declared bankrupt by a court as a result of a petition filed by creditors, rather than by the debtor voluntarily filing for bankruptcy. This typically occurs when creditors believe that the debtor is unable to pay their debts and seek to have the debtor’s assets liquidated to satisfy the outstanding obligations.
Example: The company was declared involuntary bankrupt by the court after failing to meet its financial obligations.