bankrupt


bankrupt
/ˈbæŋkrʌpt / (say 'bangkrupt)

noun
1. Law a person who upon his or her own petition or that of his or her creditors is adjudged insolvent by a court, and whose property is therefore to be administered by a trustee for the benefit of the creditors in accordance with bankruptcy legislation: *Beamish was forced to declare himself a bankrupt; and in a few days the Family Hotel, with all its contents would be put up at public auction. –henry handel richardson, 1917.
2. any insolvent debtor; one unable to satisfy any just claims made upon him or her.
3. a person completely depleted of some human quality or resource: a moral bankrupt.
adjective
4. Law subject to having (one's) property administered by a trustee in accordance with bankruptcy legislation.
5. completely depleted of some human quality or resource: *`Their policies are bankrupt,' said Shigeru Okazaki, a political analyst at UBS Warburg. –aap news, 2000.
6. relating to bankrupts.
verb (t)
7. to make bankrupt: *In the most scathing attack on Jackson by a prominent Democrat, Mr Koch claimed his policies would bankrupt America `in just three weeks'. –herald, 1988.
phrase
8. go bankrupt,
a. to submit oneself to being declared officially bankrupt.
b. to become insolvent and unable to pay one's debts.
{French banqueroute, from Italian bancarotta bankruptcy, from banca bank + rotta, past participle feminine of rompere break (the last part of the word being changed to -rupt by association with Latin ruptus, past participle of rumpere break) (from the notion that the medieval Italian moneychanger broke his dealing bench when he went out of business)

Australian English dictionary. 2014.

Synonyms:

Look at other dictionaries:

  • bankrupt — bank·rupt 1 / baŋ ˌkrəpt/ n: a debtor (as an individual or organization) whose property is subject to administration under the bankruptcy laws for the benefit of the debtor s creditors was adjudicated a bankrupt see also debtor bankrupt 2 adj:… …   Law dictionary

  • bankrupt — [baŋk′rupt΄, baŋk′rəpt] n. [Fr banqueroute < It banca rotta < banca, bench (see BANK1) + rotta, broken < L rupta, fem. pp. of rumpere, to break: see RUPTURE] 1. a person legally declared unable to pay his or her debts: the property of a… …   English World dictionary

  • Bankrupt — Bank rupt, a. 1. Being a bankrupt or in a condition of bankruptcy; unable to pay, or legally discharged from paying, one s debts; as, a bankrupt merchant. [1913 Webster] 2. Depleted of money; not having the means of meeting pecuniary liabilities; …   The Collaborative International Dictionary of English

  • Bankrupt — Bank rupt, n. [F. banqueroute, fr. It. bancarotta bankruptcy; banca bank (fr. OHG. banch, G. bank, bench) + rotta broken, fr. L. ruptus, p. p. of rumpere to break. At Florence, it is said, the bankrupt had his bench (i.e., money table) broken.… …   The Collaborative International Dictionary of English

  • bankrupt — ► ADJECTIVE 1) declared in law unable to pay one s debts. 2) completely lacking in a particular good quality or value: morally bankrupt. ► NOUN ▪ a person legally declared as bankrupt. ► VERB ▪ reduce to a bankrupt state. DERIVATIVES …   English terms dictionary

  • Bankrupt — Bank rupt, v. t. [imp. & p. p. {Bankrupted}; p. pr. & vb. n. {Bankrupting}.] To make bankrupt; to bring financial ruin upon; to impoverish. [1913 Webster] …   The Collaborative International Dictionary of English

  • bankrupt — 1530s (n., bankrupt person ); 1560s (adj.), from It. banca rotta, lit. a broken bench, from banca moneylender s shop, lit. bench (see BANK (Cf. bank) (1)) + rotta broken, defeated, interrupted from (and remodeled on) L. rupta, fem. pp. of rumpere …   Etymology dictionary

  • bankrupt — the entity that files a bankruptcy; the debtor; the insolvent entity. This is a non technical term and is not used in the Bankruptcy Code (Glossary of Common Bankruptcy Terms) A person who has made an assignment or against whom a receiving order… …   Glossary of Bankruptcy

  • bankrupt — vb impoverish, exhaust, *deplete, drain Analogous words: denude, *strip, bare: sap, cripple, disable, undermine (see WEAKEN) …   New Dictionary of Synonyms

  • bankrupt — [adj] unable to pay debts broke, depleted, destitute, exhausted, failed, impoverished, in Chapter 11*, insolvent, lacking, lost, out of business, ruined, spent, tapped out; concept 334 Ant. rich, solvent, wealthy …   New thesaurus

  • bankrupt — a debtor, who has volunteered or been forced to appear before a Bankruptcy Court and has been judged insolvent, because s/he has insufficient assets to meet the demands of all creditors. Glossary of Business Terms * * * ▪ I. bankrupt bank‧rupt 1… …   Financial and business terms