bankruptcy

[ bangk-ruhpt-see, -ruh p-see ]
/ ˈbæŋk rʌpt si, -rəp si /

noun, plural bank·rupt·cies.

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

Origin of bankruptcy

First recorded in 1690–1700; bankrupt + -cy

OTHER WORDS FROM bankruptcy

pre·bank·rupt·cy, noun, plural pre·bank·rupt·cies.

Example sentences from the Web for bankruptcy

British Dictionary definitions for bankruptcy

bankruptcy
/ (ˈbæŋkrʌptsɪ, -rəptsɪ) /

noun plural -cies

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

Cultural definitions for bankruptcy

bankruptcy

Legally declared insolvency, or inability to pay creditors.

notes for bankruptcy

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.

notes for bankruptcy

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