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Bankruptcy

//ˈbæŋk.ɹʌp(t).si// noun

Definitions

Noun
  1. 1
    A legally declared or recognized condition of insolvency of a person or organization. countable, uncountable

    "The company ended up filing for bankruptcy."

  2. 2
    a legal process intended to insure equality among the creditors of a corporation declared to be insolvent wordnet
  3. 3
    a rule in Tycoon where if the top player does not get first place that round, they instantly get last place countable, uncountable
  4. 4
    inability to discharge all your debts as they come due wordnet
  5. 5
    a state of complete lack of some abstract property wordnet

Etymology

From bankrupt + -cy, replacing earlier bankruptship.

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