Bankrupt Definition & Meaning - Merriam-Webster
Dec 4, 2015 · 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.
BANKRUPT | English meaning - Cambridge Dictionary
BANKRUPT definition: 1. unable to pay what you owe, and having had control of your financial matters given, by a law…. Learn more.
Bankruptcy - Wikipedia
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.
BANKRUPT definition and meaning | Collins English Dictionary
a person legally declared unable to pay his or her debts: the property of a bankrupt is administered for the benefit of his or her creditors and divided among them
Bankrupt - definition of bankrupt by The Free Dictionary
A person who is totally lacking in a specified resource or quality: an intellectual bankrupt. 1. a. Having been legally declared insolvent. b. Financially ruined; impoverished. 2. a. Depleted of valuable qualities or characteristics: a morally and ethically bankrupt politician. b. Totally depleted; destitute: was bankrupt of new ideas.
Bankrupt - Definition, Meaning & Synonyms - Vocabulary.com
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.
Bankruptcy - United States Courts
About Bankruptcy Filing bankruptcy can help a person by discarding debt or making a plan to repay debts. A bankruptcy case normally begins when the debtor files a petition with the bankruptcy court. A petition may be filed by an individual, by spouses together, or by a corporation or other entity. All bankruptcy cases are handled in federal courts under rules outlined in the U.S. Bankruptcy Code.
Bankrupt Definition & Meaning | Britannica Dictionary
BANKRUPT meaning: 1 : unable to pay debts; 2 : used to say that someone or something completely lacks a good or desired quality
BANKRUPT | definition in the Cambridge Learner’s Dictionary
BANKRUPT meaning: 1. unable to continue in business because you cannot pay your debts: 2. to make someone bankrupt. Learn more.
Bankruptcy - Definition, Examples, Cases, Processes - Legal …
Jun 4, 2015 · Bankruptcy is a legal process that allows consumers and business entities to eliminate some, or all, of their debts by order of a federal court.