BANKRUPTCY

• (noun) a legal process intended to insure equality among the creditors of a corporation declared to be insolvent

• (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"

  synonyms : failure

• (noun) a state of complete lack of some abstract property

  "spiritual bankruptcy", "moral bankruptcy", "intellectual bankruptcy"

WordNet® 3.0, © 2006 by Princeton University.

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