Bankruptcy

Pronunciation: /ˈbæŋkrəptsi/

Definitions of bankruptcy

noun A legal process for dealing with debt problems when an individual or business cannot repay their debts

Example Sentences

A1 Bankruptcy means being unable to pay your debts.

A2 After losing his job, he faced bankruptcy.

B1 The company declared bankruptcy due to financial mismanagement.

B2 The business went into bankruptcy following a series of lawsuits.

C1 The billionaire's bankruptcy was a major news story in the financial world.

C2 The family's bankruptcy led to the loss of their home and assets.

Examples of bankruptcy in a Sentence

formal The company declared bankruptcy after failing to meet its financial obligations.

informal My uncle's business went bankrupt last year and he had to start over.

slang I'm broke as a joke, might as well declare bankruptcy.

figurative Their relationship was on the brink of bankruptcy before they decided to seek counseling.

Grammatical Forms of bankruptcy

• past tense: bankrupted
• plural: bankruptcies
• comparative: more bankrupt
• superlative: most bankrupt
• present tense: bankrupts
• future tense: will bankrupt
• perfect tense: have bankrupted
• continuous tense: is bankrupting
• singular: bankruptcy
• positive degree: bankrupt
• infinitive: to bankrupt
• gerund: bankrupting
• participle: bankrupting

Origin and Evolution of bankruptcy

First Known Use: 1530 year

Language of Origin: Italian

Story behind the word: The word 'bankruptcy' originated from the Italian words 'banca rotta', which means 'broken bench'.

Evolution of the word: Originally used to describe a trader whose business losses were so great that they could no longer operate, the term 'bankruptcy' has evolved to encompass a legal status where an individual or organization is declared unable to repay their debts.