Bankruptcy | Mean of bankruptcy in English Dictionary

/ˈbæŋkˌrʌptsi/

• Noun
• the condition of being bankrupt
1. The company is facing bankruptcy.
2. The company filed for bankruptcy [=officially asked to be legally recognized as bankrupt] in July.
3. He declared bankruptcy. [=formally said that he was bankrupt in a legal document]
4. The company is now in bankruptcy. [=has been officially recognized as bankrupt]
5. The company was forced into bankruptcy.
6. bankruptcy court/law
7. a bankruptcy judge/lawyer
• an occurrence in which a person, business, etc., goes bankrupt
1. The number of bankruptcies was especially high last year.
• the condition of completely lacking a good or desired quality
1. Critics view the decision as an example of moral/ethical bankruptcy on the part of the administration.