Bankruptcy
volume
British pronunciation/bˈæŋkɹʌptsi/
American pronunciation/ˈbæŋkɹəpsi/, /ˈbæŋkɹəptsi/

Definition & Meaning of "bankruptcy"

Bankruptcy
01

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

02

a state of complete lack of some abstract property

03

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

example
Example
examples
The CEO's decisive action saved the company from bankruptcy.
The company is near bankruptcy.
We are staring bankruptcy in the face.
The court-appointed trustee sequestered the company's assets during the bankruptcy proceedings.
The scandal took the company to the brink of bankruptcy.
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