bankruptcy
1 ENTRIES FOUND:
plural
bankruptcies
plural
bankruptcies
Britannica Dictionary definition of BANKRUPTCY
1
a
[noncount]
:
the condition of being bankrupt
:
a condition of financial failure caused by not having the money that you need to pay your debts
— often used before another noun
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The company is facing bankruptcy.
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The company filed for bankruptcy [=officially asked to be legally recognized as bankrupt] in July.
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He declared bankruptcy. [=formally said that he was bankrupt in a legal document]
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The company is now in bankruptcy. [=has been officially recognized as bankrupt]
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The company was forced into bankruptcy.
-
bankruptcy court/law
-
a bankruptcy judge/lawyer
b
[count]
:
an occurrence in which a person, business, etc., goes bankrupt
-
The number of bankruptcies was especially high last year.
2
[noncount]
:
the condition of completely lacking a good or desired quality
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Critics view the decision as an example of moral/ethical bankruptcy on the part of the administration.
