 bankruptcy |
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| 1. | [ noun ] (finance) inability to discharge all your debts as they come due | |
| Synonyms: | failure | |
| Examples: | "the company had to declare bankruptcy" "fraudulent loans led to the failure of many banks" |
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| Related terms: | insolvency fail | |
| 2. | [ noun ] a state of complete lack of some abstract property | |
| Examples: | "spiritual bankruptcy" "moral bankruptcy" "intellectual bankruptcy" |
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| Related terms: | failure | |
| 3. | [ noun ] (law) a legal process intended to insure equality among the creditors of a corporation declared in bankruptcy | |
| Related terms: | proceeding law | |
| Similar spelling: |
bankrupt |
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