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

In words, as fashions, the same rule will hold; Alike fantastic, if too new, or old: Be not the first by whom the new are tried, Nor yet the last to lay the old aside.
Alexander Pope