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Longman Dictionary of Contemporary English
a company goes bankrupt/goes out of business (=stops doing business after losing too much money)
declared bankrupt (=it has been officially stated that he cannot pay his debts)
▪ Mr Steel has been declared bankrupt.
▪ The conservative critique along such lines argues that liberalism is morally bankrupt.
▪ But the annexation of the other planets of the Althosian system had left Nicaea economically and morally bankrupt.
▪ a bankrupt steel manufacturer
▪ Five years ago she was a successful actress, but now she is bankrupt.
▪ He claimed that American political leaders were morally bankrupt for not meeting welfare needs.
▪ He lent him several thousand dollars to help rescue his bankrupt textile business.
▪ He was declared bankrupt in the High Court yesterday.
▪ Many small businesses will go bankrupt unless interest rates fall.
▪ The state is virtually bankrupt.
▪ At yesterday's private hearing in the High Court Kevin Maxwell was officially declared bankrupt for a record £406million.
▪ For example your own columns continually describe Equitable as if it is bankrupt, in trouble, or in crisis.
▪ His archaic anti-Western policies were bankrupt, he now realized.
▪ It arose out of an action for professional negligence against a firm of accountants, but the person bringing the action went bankrupt.
▪ The best remedy for a creditor owed more than £50 was to make his debtor bankrupt.
▪ Unemployment soared, and many small producers of cash crops went bankrupt.
▪ When Quaker tea merchant Joseph Fry went bankrupt in 1828 his monthly meeting disowned him.
▪ Within a year he was bankrupt.
▪ Given the margins on most computer deals and the time it takes to organise shipment, this will bankrupt most companies.
an undischarged bankrupt
▪ On his release from prison as an undischarged bankrupt, he changed his name from Bowesfield to Sinclair.
▪ He realized that it would bankrupt the company if he continued the expansion.
▪ There are fears the new law could bankrupt some small businesses.
▪ After the 1982 recession virtually bankrupted them, many states adopted the practice.
▪ But cost-containment programs will force people to grapple with it, because healthcare is bankrupting us.
▪ Johnny Haynes's £100 a week neither bankrupted Fulham nor killed the game.
▪ There are already 80 casino operations and owners fear the star's Vegas-style resort will bankrupt them by luring away gamblers.
▪ Twice he was bankrupted, and he was never successful.
▪ What are they trying to do, bankrupt us?
▪ Mr Zherditsky's bank was declared bankrupt in 1997.
▪ The risk of California's electricity utilities going bankrupt has added to the market's jitters.
▪ More than 1, 000 companies a month have gone bankrupt for 35 months now.
▪ The Anglican Church has said it may go bankrupt as a result of payments to former students.
▪ It looked for a moment as if Farm Credit might go bankrupt.
▪ Q.. Are there any alternatives to going bankrupt?
▪ It was no surprise when the Internet Startup firm declared bankruptcy.
▪ In a few years you will blow your brains out, a bankrupt.
▪ The bankrupt was sentenced to 12 months' imprisonment.
▪ The debts owing by each of the bankrupts exceeded the values of their interests in the homes.
▪ The incipient bankrupts were almost as bad.
The Collaborative International Dictionary

Bankrupt \Bank"rupt\, v. t. [imp. & p. p. Bankrupted; p. pr. & vb. n. Bankrupting.] To make bankrupt; to bring financial ruin upon; to impoverish.


Bankrupt \Bank"rupt\, n. [F. banqueroute, fr. It. bancarotta bankruptcy; banca bank (fr. OHG. banch, G. bank, bench) + rotta broken, fr. L. ruptus, p. p. of rumpere to break. At Florence, it is said, the bankrupt had his bench (i.e., money table) broken. See 1st Bank, and Rupture, n.]

  1. (Old Eng. Law) A trader who secretes himself, or does certain other acts tending to defraud his creditors.

  2. A trader who becomes unable to pay his debts; an insolvent trader; popularly, any person who is unable to pay his debts; an insolvent person.

  3. (Law) A person who, in accordance with the terms of a law relating to bankruptcy, has been judicially declared to be unable to meet his liabilities.

    Note: In England, until the year 1861 none but a ``trader'' could be made a bankrupt; a non-trader failing to meet his liabilities being an ``insolvent''. But this distinction was abolished by the Bankruptcy Act of 1861. The laws of 1841 and 1867 of the United States relating to bankruptcy applied this designation bankrupt to others besides those engaged in trade.


Bankrupt \Bank"rupt\, a.

  1. Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one's debts; as, a bankrupt merchant.

  2. Depleted of money; not having the means of meeting pecuniary liabilities; as, a bankrupt treasury.

  3. Relating to bankrupts and bankruptcy.

  4. Destitute of, or wholly wanting (something once possessed, or something one should possess). ``Bankrupt in gratitude.''

    Bankrupt law, a law by which the property of a person who is unable or unwilling to pay his debts may be taken and distributed to his creditors, and by which a person who has made a full surrender of his property, and is free from fraud, may be discharged from the legal obligation of his debts. See Insolvent, a.

Douglas Harper's Etymology Dictionary

1560s, from Italian banca rotta, literally "a broken bench," from banca "moneylender's shop," literally "bench" (see bank (n.1)) + rotta "broken, defeated, interrupted" from (and remodeled on) Latin rupta, fem. past participle of rumpere "to break" (see rupture (n.)). "[S]o called from the habit of breaking the bench of bankrupts" [Klein]. Earlier in English as a noun, "bankrupt person" (1530s).


1550s, from bankrupt (adj.). Related: Bankrupted; bankrupting.

  1. 1 In a condition of bankruptcy; unable to pay one's debts. 2 Having been legally declared insolvent. 3 Destitute of, or wholly lacking (something once possessed, or something one should possess). n. 1 One who becomes unable to pay his or her debts; an insolvent person. 2 (context UK legal obsolete English) A trader who secretes himself, or does certain other acts tending to defraud his creditors. v

  2. (context transitive English) To force into bankruptcy.

  1. n. someone who has insufficient assets to cover their debts [syn: insolvent]

  2. v. reduce to bankruptcy; "My daughter's fancy wedding is going to break me!"; "The slump in the financial markets smashed him" [syn: ruin, break, smash]


adj. financially ruined; "a bankrupt company"; "the company went belly-up" [syn: belly-up(p)]

Bankrupt (band)

Bankrupt is a punk rock band from Budapest, Hungary. They are one of the most known Hungarian bands outside Hungary in their genre, having received coverage by UK, US and Canadian online magazines. Since their formation in 1996, the band has released three full-length albums and three CD-EPs. The title song of their most recent release Rewound was played in rotation by Hungarian Radio's music channel MR2 Petőfi and the music video of its Hungarian version Retro was played in rotation by MTV Hungary. The band plays melodic punk rock incorporating elements of pop punk, surf rock, britpop, melodic hardcore and punkabilly. They have played about 350 concerts in 9 countries, and their releases have been reviewed by various punk rock related publications around the world. The current lineup consists of bassist/vocalist/lyricist Rocco, guitarist/vocalist William, and drummer Shorty.

Usage examples of "bankrupt".

If bankrupt, he should be condemned, as formerly, to the pillory on the Place de la Bourse, and exposed for two hours, wearing a green cap.

The object of a bankrupt, like that of other persons whose interests are thwarted by any law, is to make void the law in his particular case.

Posted in the side-scenes are the bankrupt and his solicitor, the attorney of the creditors, the assignees, the agent, and the judge-commissioner himself.

At the period of our history, the solicitors frequently sought the judge with the request that he would appoint an agent whom they proposed to him, --a man, as they said, to whom the affairs of the bankrupt were well-known, who would know how to reconcile the interests of the whole body of creditors with those of a man honorably overtaken by misfortune.

This assembly, in which are found pretended creditors introduced by the bankrupt,--the only electors who never fail to come to the meeting,--proposes the whole body of creditors as candidates from among whom the commissioner, a president without power, is supposed to select the assignees.

Thus it happens that the judge almost always appoints as assignees those creditors whom it suits the bankrupt to have,--another abuse which makes the catastrophe of bankruptcy one of the most burlesque dramas to which justice ever lent her name.

The honorable bankrupt overtaken by misfortune is then master of the situation, and proceeds to legalize the theft he premeditated.

This important action brings out much clever diplomacy, on the part of the bankrupt, his assignees, and his solicitor, among the contending interests which cross and jostle each other.

But the bankrupt had signed the illicit notes with the name of his insolvent firm, and he was therefore able to bring them under the reduction of sixty-five per cent.

The law requires that while the drama is being acted, the creditors shall provide for the support of the bankrupt and his family.

The expenditures of the bankrupt have been disproportional to his fortune.

There is cause to arraign the bankrupt on a charge of wilful bankruptcy.

The steps taken by Molineux, and agreed to by the bankrupt, were as follows: The suit relating to the mortgage on the property in the Faubourg du Temple having been won in the courts, the assignees decided to sell that property, and Cesar made no opposition.

But though the law compels the bankrupt to appear, it has no power to oblige the creditor to do so.

The bankrupt gathered courage as he felt the indulgences shown to him, and he got into the coach with his uncle and Ragon.