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- Dictionarybankrupt/ˈbaŋkrʌpt/
adjective
- 1. (of a person or organization) declared in law as unable to pay their debts: "his father went bankrupt and the family had to sell their home" Similar Opposite
- 2. completely lacking in a particular good quality: "their cause is morally bankrupt" Similar Opposite
noun
- 1. a person judged by a court to be insolvent, whose property is taken and disposed of for the benefit of their creditors.
verb
- 1. reduce (a person or organization) to bankruptcy: "the strike nearly bankrupted the union"
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C1. unable to pay what you owe, and having had control of your financial matters given, by a law court, to a person who sells your property to pay your debts: He went bankrupt after only a year in business. The recession has led to many small businesses going bankrupt. informal. having no money:
The meaning of BANKRUPT is a debtor (such as an individual or an organization) whose property is subject to voluntary or involuntary administration under the bankruptcy laws for the benefit of the debtor's creditors.
n. 1. (Law) a person adjudged insolvent by a court, his or her property being transferred to a trustee and administered for the benefit of his creditors. 2. (Banking & Finance) any person unable to discharge all his or her debts.
Bankrupt definition: a person who upon their own petition or that of their creditors is adjudged insolvent by a court and whose property is administered for and divided among their creditors under a bankruptcy law.. See examples of BANKRUPT used in a sentence.
a person who upon his or her own petition or that of his or her creditors is adjudged insolvent by a court and whose property is administered for and divided among his or her creditors under a bankruptcy law. 2. any insolvent debtor; a person unable to satisfy any just claims made upon him or her. 3.
bankrupt (of something) (formal, disapproving) having absolutely nothing of any value. a government bankrupt of new ideas; a society that is morally bankrupt
You might not have any money in your pocket, but it doesn’t necessarily mean you are bankrupt. It takes a legal proceeding for the courts to declare a person bankrupt — or officially unable to pay his debts.
