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Meaning of bankruptcy


1 definition found

From WordNet (r) 3.0 (2006) [wn]:

  bankruptcy
      n 1: a state of complete lack of some abstract property;
           "spiritual bankruptcy"; "moral bankruptcy"; "intellectual
           bankruptcy"
      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" [syn: {bankruptcy}, {failure}]
      3: a legal process intended to insure equality among the
         creditors of a corporation declared to be insolvent


WordNet ® Princeton University. http://wordnet.princeton.edu

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