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Definitions from the Web

Bankruptcy

Noun

1. The state of being completely unable to pay off debts owed to creditors, often resulting in the liquidation of assets to settle these debts.

Example Sentence: After losing his job and accumulating large amounts of debt, John had no choice but to declare bankruptcy.

Related Products: Bankruptcy Guide, Personal Finance Books

Adjective

1. Relating to or affected by bankruptcy.

Example Sentence: The bankrupt company had to shut down all its operations.

Related Products: Bankruptcy Law Books, Restructuring Business

Verb

1. To declare oneself bankrupt or being forcefully declared bankrupt by a court of law.

Example Sentence: Despite his best efforts, he had to bankrupt his business due to mounting debts.

Related Products: Small Business Management, Entrepreneurship Books