bankruptcy
/bˈæŋkrʌpsi/
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Definitions
Noun
a state of complete lack of some abstract property; "spiritual bankruptcy"; "moral bankruptcy"; "intellectual 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"
Noun
a legal process intended to insure equality among the creditors of a corporation declared to be insolvent