BANKRUPTCY • E-FREE TRANSLATION.COM • Definition of Bankruptcy

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/bˈæŋkrəpsi/ /bˈæŋkrəptsi/ Listen

Bankruptcy

noun

(pl. bankruptcies)

A state of complete lack of some abstract property. "Moral bankruptcy" , "Intellectual bankruptcy"

Inability to discharge all your debts as they come due. Synonym: failure. "Fraudulent loans led to the failure of many banks"

A legal process intended to insure equality among the creditors of a corporation declared to be insolvent.

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"Bankruptcy" Quotes from Famous Books

... be relieved from." France also was "considerably enfeebled and languishes under a heavy load of debt." He argued that by funding the debt in America "the same effect must be produced that has taken place in other nations; it must either bring on national bankruptcy, or annihilate her existence ...

— Washington and His Colleagues • Henry Jones Ford

... of a resolution of the House of Representatives of the 8th instant, I transmit to the House of Representatives a report of the Secretary of State, containing all the information procured by him in relation to commissions of bankruptcy in certain districts of the United States under the act of 4th of April, 1800, "to establish an uniform system of ...

— A Compilation of the Messages and Papers of the Presidents - Section 1 (of 3) of Volume 2: James Monroe • James D. Richardson

... your valuable qualities in this house; we are now persuaded that you equally lack manhood, sense and self-respect; and I can see only one course open for you—to withdraw instanter, and, if possible, return no more. For your wages you may rank as a creditor in my late husband's bankruptcy." ...

— The Boy Scouts Book of Stories • Various

... ten years ago turned farmer, a good proportion of the reading public supposed that his experiment would combine the defects of gentleman- and poet-farming, and that he would escape the bankruptcy of Shenstone only by possessing the purse of Astor. That a man of refined sentiments, elegant tastes, wide cultivation, and humane and tender genius, given, moreover, to indulgences in "Reveries" and the "Dream-Life," should succeed in the ...

— The Atlantic Monthly, Volume 13, No. 75, January, 1864 • Various

... feeling like an invalid. Nevertheless he was aware he ought to be cautious, knowing that now, when the tension and excitement had relaxed, his body might have to confess to its consumption of capital and file a petition in bankruptcy. Sometimes, without a warning to one's strength, the body overcomes the severest hardships as if the thing were mere child's play; and all goes well so long as the stimulated body is in motion. It works on ...

— Atlantis • Gerhart Hauptmann

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