bankruptcy
English meaning: Bankruptcy
Definition
A legally declared or recognized condition of insolvency of a person or organization.
Example
“After years of mounting debt, the airline was forced to declare bankruptcy.”
Another example: “Critics accused the regime of moral bankruptcy in ignoring the famine.”
Usage — When, Where & How
A formal legal and financial noun. 'Declare bankruptcy' or 'file for bankruptcy' are the standard phrases. Also used figuratively ('moral bankruptcy') to mean a total lack of something valued. US spelling and usage dominate financial discourse.
Etymology & Origin
English — Origin & History
From Italian 'banca rotta' (broken bench), referring to a moneychanger's broken table, entering English in the 16th century via French.
Related Words
- debtor
- insolvency
- creditors
- creditor
- filing
- liquidation
- liabilities
- reorganization
- debts
- proceedings
Common Collocations
- file for bankruptcy
- declare bankruptcy
- bankruptcy proceedings
- face bankruptcy
- emerge from bankruptcy
- bankruptcy court
Word Forms
bankrupt (adj/n/v); bankruptcy (n); bankruptcies (pl)
Word Tools
Literary Heritage
“To thine own self be true, and it must follow, as the night the day, thou canst not then be false to any man.”
/To thine own self be true/
“Be honest with yourself — and as naturally as night follows day, you will be unable to be false to others.”
“I'm nobody! Who are you? Are you nobody, too?”
/I'm nobody! Who are you?/
“I am nobody — and that quiet anonymity is more honest than the noise of public fame.”
Images
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Language information
- Language
- English
- English
- Script
- Latin
- Family
- Indo-European
- Speakers
- 1.5B