bankruptcy

Noun
  1. A state of complete lack of some abstract property (synset 114502268)
    "spiritual bankruptcy"; "moral bankruptcy"; "intellectual bankruptcy"
    is a type of: failure - lack of success
  2. Inability to discharge all your debts as they come due (synset 114502017)
    "the company had to declare bankruptcy"; "fraudulent loans led to the failure of many banks"
    is a type of: insolvency - the lack of financial resources
    same as: failure
  3. A legal process intended to insure equality among the creditors of a corporation declared to be insolvent (synset 101188887)
    referred to in: jurisprudence, law - the collection of rules imposed by authority
    is a type of: legal proceeding, proceeding, proceedings - (law) the institution of a sequence of steps by which legal judgments are invoked

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