There is a cars' auction and there are some cars that had a sign that says Bankruptcies what does that mean

The cars former owner had filed bankruptcy on that vehicle loan

The vehicle has been seized by a court order as part of the bankrupt is assets and is to be sold to raise money to repay the owner is creditors

There were 1,000 cars at the local Manheim auction. Most all of them were repossessed. l guess they also get some from the bankruptcy court. The judge has to sell off all assets to pay creditors..