Arizona Statement Of Bankruptcy And Or Receivership is a document used by the state of Arizona to declare a business bankrupt or to appoint a receiver to manage its assets. The statement serves as an official notice of a business’s inability to pay its debts and creditors. It also helps to protect creditors’ rights and interests. There are two types of Arizona Statement Of Bankruptcy And Or Receivership: voluntary and involuntary. Voluntary statements are filed by a business that has reached an agreement with its creditors to restructure its debts. Involuntary statements are filed by creditors who have obtained a court order to declare a business bankrupt. In both cases, the statement outlines the business’s liabilities, assets, and creditors, and provides information about the business’s legal standing. Once the statement is filed, the courts will review the case and make a determination regarding the status of the business.