There are two types of corporate bankrupcy; voluntary or involuntary. Voluntary happens when the debtor petitions the bankrupcy court, to be declared bankrupt so that to protect own assests from being liquidated by the creditor. Else, its creditor who files for a debtor to be declared bankrupt for the creditor to dispose the debtors assests. For Trump, all were voluntary and he did so, to protect his assets and to change the terms of paying the debt. By renegotiating the terms and altering the periods for repayment. It did not mean he was broke but pretended to be.