noun
1. a state of complete lack of some abstract property (Freq. 1)
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spiritual bankruptcy
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moral bankruptcy
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intellectual bankruptcy
• Hypernyms: ↑failure
2. inability to discharge all your debts as they come due (Freq. 1)
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the company had to declare bankruptcy
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fraudulent loans led to the failure of many banks
• Syn: ↑failure
• Hypernyms: ↑insolvency
3. a legal process intended to insure equality among the creditors of a corporation declared to be insolvent
• Topics: ↑law, ↑jurisprudence
• Hypernyms: ↑proceeding, ↑legal proceeding, ↑proceedings
Useful english dictionary. 2012.