破产，是指债务人因不能偿债或者资不抵债时，由债权人或债务人诉请法院宣告破产并依破产程序偿还债务的一种法律制度。狭义的破产制度仅指破产清算制度，广义的破产制度还包括重整与和解制度。破产多数情况下都指一种公司行为和经济行为。但人们有时也习惯把个人或者公司停止继续经营亦叫做破产。

在中国大陆破产依据《中华人民共和国破产法》进行。破产仅限于企业法人，而不适用于自然人。依照规定，当企业法人不能清偿到期债务，并且资产不足以清偿全部债务或者明显缺乏清偿能力的或者有明显丧失清偿能力可能的，可以向法院申请重整、和解或者破产清算。当债务人不能清偿到期债务时，债权人可向法院申请对债务人重整或者破产清算。

与中国的破产法相比，美国的破产法适用范围更广，不仅法人，个人甚至地方政府都可以申请破产。

Winding up /Insolvency /Bankruptcy

三者均有破产的含义。

1

Winding up

停业清理。企业通过清算账目，清理资产，将净资产分给股东或者合伙人的程序，通常发生于企业解散或破产之时。

英文释义：

The process of settling accounts and liquidating assets in anticipation of a partnership's or acorporation's dissolution.

creditors' voluntary winding up. See involuntary winding up.

involuntary winding up. (1928)A court-ordered winding up, usu. because the company is insolvent.

members'voluntary winding up. See voluntary winding .

voluntary winding up. (1856) The liquidation procedure begun after a company's owners vote to dissolve the business -Also termed members' voluntary winding up.

——Black’s Law Dictionary

2

Insolvency

n．

无カ偿付债务；无カ偿债。指一个人的全部财产和资产不足以偿付其债务。无力偿债可引起破产程序，也可引起债务和解［ arrangement］程序。破产需经司法裁决。

英文释义：

1. The condition of being unable to pay debts as they fall due or in the usual course of business.

2. The inability to pay debts as they mature - Also termed failure to meet obligations; failing circumstances.

balance-sheet insolvency.(1966)Insolvency created when the debtor's liabilities exceed its assets.

equity insolvency.(1918)Insolvency created when the debtor cannot meet its obligations as they fall due.

notorious insolvency.(1802)Scots law. A bankruptcy;the stage of insolvency in which the debtor has publicly acknowledged insolvency under the statute. 

——Black’s Law Dictionary

3

Bankruptcy

n．

1、破产。可指当事人无力偿还到期债务的状况，也可指已依破产法被宣告破产的事实，或者已依破产法被宣告破产的当事人的地位。

2、破产程序（bankruptcy proceedings）。

英文释义：

1. The quality, state, or condition of being without enough money to pay back what one owes;

2. A statutory procedure by which a(usu. insolvent)debtor obtains financial relief and undergoes a judicially supervised reorganization or liquidation of the debtor’s assets for the benefit of creditors; a case under the Bankruptcy Code(Title 11 of the United States Code). 

——Black’s Law Dictionary

（本文转自公众号“律蚁语言服务社”，已获授权）