Meaning of BANKRUPTCY
| Pronunciation: | | 'bangkruptsee
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 WordNet Dictionary |
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- [n] a legal process intended to insure equality among the creditors of a corporation declared in bankruptcy
- [n] inability to discharge all your debts as they come due; "the company had to declare bankruptcy"; "fraudulent loans led to the failure of many banks"
- [n] a state of complete lack of some abstract property; "spiritual bankruptcy"; "moral bankruptcy"; "intellectual bankruptcy"
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| | Synonyms: | | failure |
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| | See Also: | | insolvency, legal proceeding, proceeding, proceedings | |
| Products Dictionary |
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| | Definition: | |  Bankruptcy
Description not available. more details ... |
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| Webster's 1913 Dictionary |
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| | Definition: | | \Bank"rupt*cy\, n.; pl. {Bankruptcies}(?).
1. The state of being actually or legally bankrupt.
2. The act or process of becoming a bankrupt.
3. Complete loss; -- followed by of.
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| Legal Dictionary |
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| | Definition: | | Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may be released from or "discharged" from their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings. The person with the debts is called the debtor and the people or companies to whom the debtor owes money are called creditors. |
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| Thesaurus Terms |
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| | Related Terms: | | bouncing check, breakage, breakdown, bust, collapse, crack-up, crash, crippling, damage, defeat, destruction, detriment, dilapidation, disablement, disrepair, encroachment, failure, futility, harm, hobbling, hurt, hurting, ill success, impairment, incapacitation, infringement, injury, inroad, insolvency, insufficient funds, kited check, losing game, loss, maiming, mayhem, mischief, mutilation, no go, nonaccomplishment, nonsuccess, overdraft, overdrawn account, receivership, ruination, ruinousness, sabotage, scathe, sickening, spoiling, successlessness, unsuccess, unsuccessfulness, uselessness, weakening |
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