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Possible Answers:
RUIN.
Last seen on: Wall Street Journal Crossword – November 23 2022 – Thanksgiving Spread
Random information on the term “Bankrupt”:
As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions, similar to bankruptcy in the United States. It functions as a rescue mechanism for insolvent entities and allows them to carry on running their business. The process – in the United Kingdom colloquially called being “under administration” – is an alternative to liquidation or may be a precursor to it. Administration is commenced by an administration order.
A company in administrative receivership is operated by an administrator (as interim chief executive with custodial responsibility for the company’s assets and obligations) on behalf of its creditors. The administrator may recapitalize the business, sell the business to new owners, or demerge it into elements that can be sold and close the remainder.
Most countries distinguish between voluntary (board-decided) and involuntary (court-decided) receivership. In voluntary administrative receivership, the administrator is appointed by the company directors. In involuntary administrative receivership, the administrator is appointed by a judicial court. The legal terms for these processes vary from country to country, and the processes may overlap.
Random information on the term “RUIN”:
The Virtual International Authority File (VIAF) is an international authority file. It is a joint project of several national libraries and operated by the Online Computer Library Center (OCLC).
Discussion about having a common international authority started in the late 1990s. After a series of failed attempts to come up with a unique common authority file, the new idea was to link existing national authorities. This would present all the benefits of a common file without requiring a large investment of time and expense in the process.
The VIAF concept was introduced at the 2003 World Library and Information Congress, hosted by the International Federation of Library Associations. The project was initiated by the US Library of Congress (LC), the German National Library (DNB) and the OCLC on 6 August 2003. The Bibliothèque nationale de France (BnF) joined the project on 5 October 2007.
The project transitioned to being a service of the OCLC on 4 April 2012.