How to Say "bankruptcy proceedings" in Spanish
The Spanish word for “bankruptcy proceedings” is “concurso” — C1 level.
English → SpanishC1
nounC1formal
The legal process when a company or person cannot pay debts

Examples
La empresa se declaró en concurso de acreedores tras la crisis financiera.
The company filed for bankruptcy proceedings after the financial crisis.
El ayuntamiento ha abierto un concurso para la construcción del nuevo puente.
The city council has opened a public tender for the construction of the new bridge.
Legal Phrase
When referring to bankruptcy, always use the full phrase 'concurso de acreedores' (creditors' contest/meeting) or 'declararse en concurso' (to declare bankruptcy).
Related Translations
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