Bancarrota (en. Bankruptcy)

/ban.kar.'ro.ta/

Meaning & Definition

EnglishSpanish

noun

A financial situation in which a person or company cannot pay their debts.

After several years of losses, the company declared bankruptcy.

Después de varios años de pérdidas, la empresa se declaró en bancarrota.

A legal procedure that allows a debtor to reorganize their debts or liquidate their assets.

The lawyer explained how the bankruptcy process worked.

El abogado le explicó cómo funcionaba el proceso de bancarrota.

A consequence of poor financial management or an economic crisis.

The company's bankruptcy surprised many investors.

La bancarrota de la compañía sorprendió a muchos inversores.

The term 'bancarrota' comes from the Italian 'banca rotta', which means 'broken bank', referring to a bank that cannot meet its obligations.

to declare bankruptcy

To officially announce that a person or company cannot meet their debts.

declararse en bancarrota

technical bankruptcy

A situation in which a company reports losses but can still continue operating.

bancarrota técnica

to avoid bankruptcy

To take financial measures to avoid reaching the situation of insolvency.

evitar la bancarrota

bankruptcy

The state of a person or company that cannot pay their debts.

quiebra

insolvency

Inability to meet debts when they are due.

insolvencia

debt

The amount of money owed to another person or entity.

deuda

To end up on the street

After losing his job, he thought he would end up on the street due to bankruptcy.

Después de perder su trabajo, pensó que se iría a la calle por la bancarrota.

To fail in business

That new project was a fiasco and ended the company, leading it to fail in business.

Ese nuevo proyecto fue un fiasco y acabó con la empresa, llevándola a fallar en los negocios.