Bankruptcy

/bˈæŋkɹʌptsi/

/ˈbæŋkɹəpsi/, /ˈbæŋkɹəptsi/

Bankruptcy

a situation in which a person or business is unable to pay due debts

synonyms : failure

a state of complete lack of some abstract property

a legal process intended to insure equality among the creditors of a corporation declared to be insolvent

Examples

1. We are staring bankruptcy in the face.

2. The scandal took the company to the brink of bankruptcy.

3. I learned of the company's bankruptcy from a news article.

4. Mismanagement had brought the company to the brink of bankruptcy.