Name: Ballon Stoll Bader & Nadler, P.C.
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Profile: Founded in 1931 by Frederick E.M. Ballon, Ballon Stoll Bader & Nadler, P.C. is an established, mid-sized law firm offering a full complement of legal services. Our firm has maintai.
Practice Areas: General Civil Practice. Bankruptcy, Insolvency, Commercial, Litigation, Real Estate, Probate, Corporation, Family, Fashion Law, Reorganization, Arbitration, Labor and Entertainment Law, Copyright, Trademark, Securities, Tax, Estate.
Location: New York (New York Co.)
Bankruptcy: Bankruptcy is a legal status of a person or organization that cannot repay the debts it owes to creditors. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.

Bankruptcy is not the only legal status that an insolvent person or organization may have, and the term bankruptcy is therefore not a synonym for insolvency. In some countries, including the United Kingdom, bankruptcy is limited to individuals, and other forms of insolvency proceedings (such as liquidation and administration) are applied to companies. In the United States, bankruptcy is applied more broadly to formal insolvency proceedings.