bankruptcy Meaning, Definition & Usage

  1. noun a state of complete lack of some abstract property
    • spiritual bankruptcy
    • moral bankruptcy
    • intellectual bankruptcy
  2. noun inability to discharge all your debts as they come due
    failure.
    • the company had to declare bankruptcy
    • fraudulent loans led to the failure of many banks
  3. noun a legal process intended to insure equality among the creditors of a corporation declared to be insolvent

WordNet

Bank"rupt*cy noun
Wordforms
plural Bankruptcies()
Definitions
  1. The state of being actually or legally bankrupt.
  2. The act or process of becoming a bankrupt.
  3. Complete loss; -- followed by of.

Webster 1913