Associations to the word «Bankruptcy»

Wiktionary

BANKRUPTCY, noun. A legally declared or recognized condition of insolvency of a person or organization.

Dictionary definition

BANKRUPTCY, noun. A state of complete lack of some abstract property; "spiritual bankruptcy"; "moral bankruptcy"; "intellectual bankruptcy".
BANKRUPTCY, noun. 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".
BANKRUPTCY, noun. A legal process intended to insure equality among the creditors of a corporation declared to be insolvent.

Wise words

A word is not a crystal, transparent and unchanged; it is the skin of a living thought and may vary greatly in color and content according to the circumstances and time in which it is used.
Oliver Wendell Holmes, Jr.