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In the previous video, we discussed a scenario where a company was unable to pay its debt holders, leading to bankruptcy. In this situation, the bankruptcy court decided to liquidate the company's assets, as it was determined that operating the business no longer made sense. It was highlighted that debt holders have priority over equity holders in terms of payment; they are paid first. If there are insufficient funds to cover debts, equity holders receive nothing. This process is known as Chapter 7 liquidation, which many associate with a company's bankruptcy resulting in its complete dissolution. The focus was primarily on the corporate aspect, with a possible discussion on personal bankruptcy planned for the future.
