voluntary bankruptcy

Reader's Digest turns to Chapter 11 Reader's Digest Association, the venerable staple of doctors' waiting rooms and middle-class bedside tables, yesterday announced plans for voluntary bankruptcy as it became the latest victim of the advertising recession.

美国《读者文摘》公司（Reader's Digest Association）昨日宣布，计划申请自愿破产，该公司成为广告业衰退的最新受害者之一。《读者文摘》曾是候诊室及中产阶级床头历史悠久的必备之选。

A debtor may file for bankruptcy, which is called "voluntary bankruptcy".

债务人可以申请破产，这叫做自愿破产。

Bankruptcy. A debtor may file for bankruptcy, which is called "voluntary bankruptcy".

破产程序保护债务人免受债权人的讨债。债务人可以申请破产，这叫做“自愿破产”。

As a kind of mandatory one between voluntary liquidation and bankruptcy liquidation, special liquidation not only reflects the state's judicial supervision over corporate liquidation procedures but also avoids wasting the judicial resources after entering into bankruptcy proceedings.

特别清算又称为强制清算，是介于自愿清算与破产清算之间的一种清算程序，它既体现了国家对公司清算程序的司法监督，又避免了进入破产程序后造成对司法资源的巨大浪费。