noun : BANKRUPTCY
Source: WordNet 3.1
-
1. (
) a state of complete lack of some abstract property; "spiritual bankruptcy"; "moral bankruptcy"; "intellectual bankruptcy" ;
-
2. (
) 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" ;
-
3. (
) a legal process intended to insure equality among the creditors of a corporation declared to be insolvent ;
See more about : BANKRUPTCY