BANKRUPTCY Definition & Meaning

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bankruptcy

[ bangk-ruhpt-see, -ruhp-see ]

Phonetic (Standard)IPA

noun

plural bankruptcies.

the state of being or becoming bankrupt.
utter ruin, failure, depletion, or the like.

bankruptcy

/ ˈbæŋkrʌptsɪ; -rəptsɪ /

noun

the state, condition, or quality of being or becoming bankrupt

bankruptcy

Legally declared insolvency, or inability to pay creditors .

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Notes

If an individual or a corporation declares bankruptcy, a court will appoint an official to make an inventory of the individual's or corporation's assets and to establish a schedule by which creditors can be partially repaid what is owed them.

An individual who is lacking a specific resource or quality is sometimes said to be bankrupt, as in intellectually bankrupt or morally bankrupt.

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Other 51�Թ� Forms

��·��԰�۳ܱ��·�� noun plural prebankruptcies

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51�Թ� History and Origins

Origin of bankruptcy¹

First recorded in 1690–1700; bankrupt + -cy

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Compare Meanings

How does bankruptcy compare to similar and commonly confused words? Explore the most common comparisons:

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Example Sentences

Examples have not been reviewed.

If you can’t, you may want to discuss your situation with a bankruptcy attorney.

From

Miller, the bankruptcy trustee, disputed his claimed cooperation.

From

They enter old age with little or no savings, medical problems without adequate coverage, a necessity to work in order to eat and have a place to live, and, unsurprisingly, increasing rates of bankruptcy filings.

From

Forever 21, an early leader in fast fashion, couldn’t compete with the likes of Zara, H&M and Shein and filed for bankruptcy for a second time last month.

From

Donald Trump may be overseeing and intensifying a planetary bankruptcy, a kind of decline and fall that hasn’t been part of the human experience until now.

From

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