La palabra del día: Quiebra

Feminine noun. From the verb quebrar, to break, and this one from the Latin verb crepare.
In Legal Spanish a quiebra is a proceeding l by which someone is financially incapacitated due to their insolvency and all their assets are executed in favour of all of their creditors
Before the quiebra, and to avoid it, there is usually a concurso preventivo. The verb is concursar.
E.g: No se inició ningún procedimiento de quiebra en relación con esta empresa en el contexto del derrumbamiento del grupo: This company was not subject to bankruptcy proceedings in connection with the breakup of the group; El concurso preventivo se da por finalizado cuando el deudor haya cumplido íntegramente el acuerdo preventivo y cancelado…: The reorganization proceeding finalizes upon completion of all acts and cancellation of all liabilities by the debtor pursuant…
The verb quebrar, of course, is also used for arms and legs. dc