declare bankruptcy


: to formally say in a legal document that one is bankrupt
Because of high medical expenses, he declared bankruptcy.
The company was forced to declare bankruptcy.

Examples of declare bankruptcy in a Sentence

Recent Examples on the Web In a statement, de la Torre said the company decided to declare bankruptcy over rising costs and the delay in finalizing the sale of its physician network. Michelle Marchante, Miami Herald, 6 May 2024 The decision by Bishop Michael C. Barber and other church leaders to declare bankruptcy was seen by advocates as an escape route from having to pay out various impending settlements in full. Jakob Rodgers, The Mercury News, 24 Feb. 2024 Detroit Free Press The former operator of Boyce Hydro and the Edenville Dam, which failed when record rains hit mid-Michigan in 2020, has lost his attempt to declare bankruptcy and avoid paying a $120 million judgment for his role in the catastrophic flooding. Jennifer Dixon, Detroit Free Press, 14 Mar. 2024 Coppola lost his studio and was left with debts that eventually forced him—and Eleanor—to declare bankruptcy. Richard Brody, The New Yorker, 18 Jan. 2024 Helmers are scrambling to reclaim distribution rights to their work out of fear that 1091 Pictures’ parent company could declare bankruptcy. Addie Morfoot, Variety, 20 Dec. 2023 Cirque’s reliance on live audiences made the company particularly vulnerable to the COVID-19 pandemic and forced it to declare bankruptcy in June 2020. Jessica Gelt, Los Angeles Times, 29 Nov. 2023 Under current law, when well owners declare bankruptcy, the financial obligation for well plugging may shift to previous owners, but this provision applies only to wells transferred after Jan. 1, 1996. Tony Briscoe, Los Angeles Times, 3 Oct. 2023 After suing crypto celebrities Justin Sun and Do Kwon, SEC Chair Gary Gensler turned his attention to Bittrex in April, which prompted the exchange to cease operations in the U.S. on April 30, and then, a bit more than two weeks later, declare bankruptcy for its U.S. subsidiary. Ben Weiss, Fortune Crypto, 11 Aug. 2023

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

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Cite this Entry

“Declare bankruptcy.” Dictionary, Merriam-Webster, Accessed 18 May. 2024.

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