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"
   - failure 
3. A legal process intended to insure equality among the creditors of a corporation declared to be insolvent

Derived forms: bankruptcies

See also: bankrupt

Type of: failure, insolvency, legal proceeding, proceeding, proceedings

Encyclopedia: Bankruptcy

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