debt forgiveness; debt waiver
Financial and legal term for voluntarily giving up the right to collect a debt, often used in corporate restructuring or international aid contexts.
The bank agreed to forgive the company's debt.
Debt forgiveness is one way to rescue insolvent companies.
債務免除 is a near-synonym also meaning debt forgiveness, but 債権放棄 emphasizes the creditor's voluntary relinquishment of the claim, while 債務免除 focuses on the release of the debtor's obligation.
Compound of 債権 (credit, claim) and 放棄 (abandonment, waiver). The term is a direct combination of these Sino-Japanese elements and is used primarily in financial and legal contexts.