bankruptcy

noun

bank·​rupt·​cy ˈbaŋk-(ˌ)rəp(t)-sē How to pronounce bankruptcy (audio)
plural bankruptcies
1
: the quality or state of being bankrupt
2
: utter failure or impoverishment

Examples of bankruptcy in a Sentence

The company is facing bankruptcy. The company was forced into bankruptcy. The number of bankruptcies was especially high last year. Critics view the decision as an example of moral bankruptcy on the part of the administration.
Recent Examples on the Web About The Daily Money Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. Betty Lin-Fisher, USA TODAY, 20 Sep. 2024 In October 2012, with shares trading for just 25 cents per share, A123 filed for Chapter 11 bankruptcy. Amy Feldman, Forbes, 19 Sep. 2024 The bankruptcy announcement had been in the pipeline for several weeks. Afp, Fortune, 18 Sep. 2024 The bankruptcy filing in Delaware follows months-long negotiations between Tupperware and its lenders over how to manage more than $700 million in loans. Eliza Ronalds-Hannon / Bloomberg, TIME, 18 Sep. 2024 See all Example Sentences for bankruptcy 

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'bankruptcy.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

circa 1634, in the meaning defined at sense 1

Time Traveler
The first known use of bankruptcy was circa 1634

Dictionary Entries Near bankruptcy

Cite this Entry

“Bankruptcy.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/bankruptcy. Accessed 5 Oct. 2024.

Kids Definition

bankruptcy

noun
bank·​rupt·​cy ˈbaŋ-(ˌ)krəp-(t)sē How to pronounce bankruptcy (audio)
plural bankruptcies
: the condition of being bankrupt

Legal Definition

bankruptcy

noun
bank·​rupt·​cy ˈbaŋ-ˌkrəp-sē How to pronounce bankruptcy (audio)
plural bankruptcies
1
: the quality or state of a bankrupt
filed for bankruptcy
2
: the administration of an insolvent debtor's property by the court for the benefit of the debtor's creditors
the debt was discharged in bankruptcy
bankruptcy proceedings
see also adequate protection, Bankruptcy Code compare insolvency, receivership

Note: Bankruptcy protects the debtor from debt collection by creditors. A debtor may file for bankruptcy, which is called “voluntary bankruptcy,” or a creditor may petition the court to declare the debtor bankrupt, which is called “involuntary bankruptcy.” Involuntary bankruptcy is allowed only under chapter 7 or chapter 11 of the U.S. Bankruptcy Code. There are four types of relief available to individuals or corporations under the Bankruptcy Code: liquidation (chapter 7), reorganization (chapter 11), debt adjustment for a family farmer or fisherman (chapter 12), and debt adjustment for an individual with a regular income (chapter 13). Municipalities may file for bankruptcy under chapter 9. The court determines which debts are to be repaid according to their priority, and the debtor is typically granted a discharge from unpaid debts that are dischargeable under the Bankruptcy Code.

More from Merriam-Webster on bankruptcy

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