Main Entry: ¹bank·rupt

Pronunciation: \ˈbaŋk-(ˌ)rəpt\

Function: noun

Etymology: modification of Middle French & Old Italian; Middle French banqueroute bankruptcy, from Old Italian bancarotta, from banca bank + rotta broken, from Latin rupta, feminine of ruptus, past participle of rumpere to break — more at bank, reave

Date: 1533

1 a : a person who has done any of the acts that by law entitle creditors to have his or her estate administered for their benefit b : a person judicially declared subject to having his or her estate administered under the bankrupt laws for the benefit of creditors c : a person who becomes insolvent
2 : a person who is completely lacking in a particular desirable quality or attribute <a moral bankrupt>