/vɑləntɛri bæŋkrʌpt/ – Phrase
Definition: con nợ bị tuyên bố mất khả năng chi trả theo ý nguyện của bản thân.
A more thorough explanation: “Voluntary bankruptcy” refers to a situation where an individual or entity initiates the process of declaring bankruptcy on their own accord, rather than being forced into bankruptcy by creditors. In this context, the term “voluntary” indicates that the decision to file for bankruptcy was made willingly by the debtor.
Example: The company filed for voluntary bankruptcy in order to restructure its debts and financial obligations.