WordValenoun
bankruptcy
legal status of being unable to repay debts
In more detail
1. (noun) a legal situation in which a person or company is unable to pay their debts and must give up their assets to creditors
2. (noun) a complete lack or failure of something
Examples
- 1. The company filed for bankruptcy after losing millions of dollars.
- 2. The government's bankruptcy of leadership during the crisis was evident.
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