Bankruptcy
WordNet

noun


(1)   A legal process intended to insure equality among the creditors of a corporation declared to be insolvent
(2)   Inability to discharge all your debts as they come due
"The company had to declare bankruptcy"
"Fraudulent loans led to the failure of many banks"
(3)   A state of complete lack of some abstract property
"Spiritual bankruptcy"
"Moral bankruptcy"
"Intellectual bankruptcy"
WiktionaryText

Noun



  1. A legally declared or recognized condition of insolvency of a person or organization.

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