Bankruptcy occurs when your debt exceeds your ability to it off. I suppose that would be the point at which it's easier and cheaper to write new code than try t

Bankruptcy occurs when your debt exceeds your ability to it off. I suppose that would be the point at which it's easier and cheaper to write new code than try to fix the old code. The debt can no longer be paid back. That said, somehow there are still COBOL programs running, so even though that program should shut its doors and liquidate any useful assets, real world money prevents that from happening.