Definition, Meaning & Synonyms
falência
noun
/fah-‘len-cia/
Definition
A term used to describe the legal state of a person or organization that is unable to meet their financial obligations.
Examples
- The company declared falência after years of poor financial management.
- In Brazil, a falência process can take several months to resolve.
- Many small businesses fear falência during economic downturns.
Meaning
Falência refers to bankruptcy or insolvency, indicating a failure to fulfill debts and an inability to manage financial responsibilities.
Synonyms
- insolvência
- quiebra
- falimentação