Meaning & Definition of word "Bankrupt"
Bankrupt
/ˈbæŋk.rʌpt/
noun:
- 1. a person who has been declared bankrupt.
- Example: After the trial, he was considered a bankrupt and lost his business assets.
verb:
- 1. to cause (a person or organization) to become bankrupt.
- Example: The economic downturn bankrupted many small businesses.
- 2. to empty of resources or assets.
- Example: Overextending their investments ultimately bankrupted the firm.
adjective:
- 1. unable to pay debts; financially ruined.
- Example: The company declared itself bankrupt after failing to secure new funding.
- 2. lacking in a particular quality; devoid.
- Example: He felt bankrupt of ideas after working on the project for too long.
Etymology
●Derived from the Italian 'banca rotta', meaning 'broken bank'.
Common Phrases and Expressions
bankruptcy court:
A special court that handles bankruptcy cases.
file for bankruptcy:
To submit paperwork to declare oneself unable to pay debts.
go bankrupt:
To become bankrupt or unable to pay debts.
Related Words
insolvency:
The state of being unable to pay debts.
liquidation:
The process of closing a business and selling its assets.
creditor:
A person or entity to whom money is owed.
Slang Meanings of bankrupt
Meaning: Broke
● Example Sentence: After losing his job, he was totally broke.
Meaning: Flat broke
● Example Sentence: I can't go out tonight; I'm flat broke.