What is the difference between 倒産 and 破産?


Is there any difference in usage or are they pretty much interchangeable?




倒産 means "to go bankrupt", that is they can't keep the company in existence
because of the company's debts.

If a company go bankrupt, there are three ways that the company's creditors
can deal with the company after that.

One of them is 破産. A bankrupt company's all assets are exchanged to money and
they are divided among the company's creditors. And the company can't exist.

Source: <http://nlab.itmedia.co.jp/nl/articles/1704/28/news010.html>




倒産 means "to go bankrupt", that is they can't keep the company in existence
because of the company's debts.

If a company go bankrupt, there are three ways that the company's creditors
can deal with the company after that.

One of them is 破産. A bankrupt company's all assets are exchanged to money and
they are divided among the company's creditors. And the company can't exist.

Source: <http://nlab.itmedia.co.jp/nl/articles/1704/28/news010.html>

