Topic summary
State-run enterprise
Extracted from the Wikipedia article State-owned enterprise.
Europe
A state-run enterprise may operate differently from an ordinary limited liability corporation. For example, in Finland, state-run enterprises (liikelaitos) are governed by separate laws. Even though responsible for their own finances, they cannot be declared bankrupt; the state answers for the liabilities. Stocks of the corporation are not sold and loans have to be government-approved, as they are government liabilities.