konkurssissa
Konkurssissa is a Finnish term that refers to the state of being insolvent, usually in the context of a company or individual that cannot meet its financial obligations. In Finland, bankruptcy is governed by the Bankruptcy Act of 1975, which provides a framework for both initiating and carrying out insolvency proceedings.
To file for konkursissa, the debtor must submit an application to the district court, which then appoints
Creditors play a pivotal role in the process. They register claims in a public register maintained by
There are two principal types of konkursissa: corporate and personal. Corporate bankruptcy focuses on companies, whereas
Applicants who are declared bankrupt face a range of consequences. For individuals, there can be restrictions