bankruptcy

bank·rupt·cy

noun \ˈbaŋk-(ˌ)rəp(t)-sē\

plural bank·rupt·cies

Definition of BANKRUPTCY

1

: the quality or state of being bankrupt

2

: utter failure or impoverishment

Examples of BANKRUPTCY

1. The company is facing bankruptcy.
2. The company was forced into bankruptcy.
3. The number of bankruptcies was especially high last year.
4. Critics view the decision as an example of moral bankruptcy on the part of the administration.

First Known Use of BANKRUPTCY

1700

Related to BANKRUPTCY

Synonyms: insolvency, failure, ruin

Antonyms: solvency

Related Words: Chapter 11

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Other Legal Terms

actionable, alienable, carceral, chattel, complicity, decedent, larceny, malfeasance, modus operandi