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Bankruptcy vs liquidation, they are often used as if they mean the same thing, but the difference is fundamental. Mixing up the two doesn't just cause confusion in conversation; it can delay the right advice, put assets at unnecessary risk, and leave directors or individuals exposed to consequences they didn't see coming. One is a personal legal process. The other ends the existence of a company. Once that distinction is clear, most of the confusion falls away. At RCM Adv