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In the previous video, we discussed a scenario where a company is unable to pay its debt holders, leading to bankruptcy. The bankruptcy court decides to liquidate the company's assets rather than continue operations. In this process, debt holders are prioritized over equity holders, meaning they receive compensation first. If there are insufficient funds to pay all debt holders, equity holders receive nothing. This process is referred to as Chapter 7 liquidation, which is commonly associated with a company's disappearance following bankruptcy. The focus was on the corporate world, with a possibility of discussing personal bankruptcy in future videos.
