Definition
to file for bankruptcy: to declare oneself unable to pay debts, insolvent (usually a company)
Many large corporations filed for bankruptcy following the market crash of 1989.
After reviewing our financial situation, our accountants advised us to declare bankruptcy.
to go bankrupt: to become unable to pay debts, to go insolvent
After spending more money than they were earning for years, the company went bankrupt.
bankruptcy: insolvency, a legal process designed to help people deal with their debts
(a) morally bankrupt (person): (a person) without morals
That man is morally bankrupt, he killed his own grandmother.
- "Sadly, it is true that the Perfume Hut recently filed for bankruptcy."
- "We will not be declaring bankruptcy."
- "MiniTeleCom declares bankruptcy and finally, US senator Robert Roberts resigns following charges of embezzlement."
- "He told me that... he told me that I should consider filing for bankruptcy."
- "Bruno : What? Bankruptcy?"
- "Furthermore, regarding your concerns for the budget, I assure you that we're not in danger of going bankrupt anytime soon!"
Still unsure of the best way to use 'Bankruptcy'? Improve your English thanks to our online English lessons. We offer a free test as well as a free level assessment!
What our users say:
Test your English with Gymglish today and get a free level assessment
Absolutely free - no strings attached.
