Question

Joe Keller and Ed Keller are brothers and both are lawyers. They start a personal injury law firm. Over the course of six months, they lose financially, as the settlements reached were not large enough to cover their expenses. The business is in debt. Which is the most likely scenario regarding their debt?

Answer 1

They are bankrupt.

Step-by-step explanation:

Bankrupt is a stage given by a legal court, that is legally assigned when they are able to demonstrate that they can't pay the debts. So, the court could order the relief of their debts or part.