bankruptcy

Meanings

1. 1
   noun

   The legal state of being unable to pay your debts.

   The company ended up filing for bankruptcy.

2. 2
   noun

   The legal process for dealing with a person or business that cannot pay its debts.

   The court oversaw the airline's bankruptcy and divided its assets among creditors.

3. 3
   noun

   A complete lack of some quality.

   Critics accused the government of moral bankruptcy.

From bankrupt + -cy, replacing earlier bankruptship.

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